Thinking of switching your mortgage in Ireland? You’re not alone, there are reasons and benefits to remortgage. Whether you’re chasing a better interest rate, looking to release equity, or just rethinking your finances, remortgaging is a smart move for many Irish homeowners. But the big question is: how long does a remortgage take from offer to completion?
In this guide, we break down the full remortgage process in Ireland, the typical remortgage offer to completion timescale, and practical ways on how to avoid delays. With clear steps and expert tips from MortgageLine, you’ll know what to expect and how to keep things moving smoothly.
What Is the Remortgage Process in Ireland?
Let’s start with the basics. The remortgage process in Ireland is similar to applying for a first mortgage for a new home. However, it is much easier as you do not have to find a home and are simply switching your mortgage for a better deal.
Here’s a step-by-step breakdown of the main stages involved when remortgaging:
1. Reviewing Your Existing Mortgage Deal
Start by checking your current interest rate, outstanding balance, and whether there are any break fees or penalties for switching to a new mortgage.
2. Submitting a New Mortgage Application
Apply with your Mortgage Broker. You’ll need payslips, bank statements, and proof of identity.
3. Property Valuation
Your new lender will arrange a property valuation to confirm the property’s current market value.
4. Remortgage Conveyancing Process
A solicitor is required to manage the legal transfer, request deeds, and register your new mortgage.
5. Signing New Mortgage Documents
Once the remortgage application is approved, you’ll sign a new loan offer and related paperwork.
6. Completion and Release of Funds
Your old mortgage is paid off and the new loan begins. This is the final step, and you won’t even need to leave your home.
Remortgage Offer to Completion Timescale
So, how long does a remortgage take to complete? On average, the mortgage offer to completion timescale is between 4 and 8 weeks. The exact duration depends on how efficiently each stage of the remortgage process is handled by you, your lender, and your solicitor.
Application to Approval (1–2 weeks)
After submitting your application, the lender reviews your documents and provides you with a mortgage approval in principle. This step is usually straightforward if your paperwork is complete.
🏡 Valuation and Loan offer (1 week)
Your home is valued by a mortgage valuer on your banks panel. The bank reviews the mortgage valuation and any other approval conditions and issues your mortgage loan offer.
⚖️ Legal Checks and Remortgage Conveyancing (2–4 weeks)
Solicitors work behind the scenes to review your mortgage loan offer and closing conditions. They will also register your new mortgage lenders charge on your property title and remove the old lenders charge.
✍️ Final Signing and Drawdown (1 week)
When everything is ready, you sign the new loan documents. The lender then releases the funds to pay off the old mortgage, and the new one takes effect.
The Remortgage Conveyancing Process
The remortgage conveyancing process is the legal part of the switch and often the lengthiest. Here’s a closer look at what happens:
- Requesting Title Deeds from Your Current Lender: Your solicitor obtains your property’s legal documents from your current lender.
- Reviewing the New Mortgage Offer’s Legal Terms: Your solicitor checks the legal terms to confirm everything is correct and compliant.
- Requesting a Redemption Statement: This document shows exactly the outstanding balance on your current mortgage.
- Preparing the New Loan Documentation: Your solicitor prepares de paperwork for signing.
- Registering the New Mortgage: The Property Registration Authority updates the records to reflect your new lender and the mortgage details.
Pro tip: MortgageLine can recommend an experienced solicitor familiar with the remortgage conveyancing process to reduce delays and help you complete faster.
How to Avoid Delays During the Remortgage Process
Delays often happen during the remortgage process, but with a bit of preparation, you can keep things on track. Here are some practical steps:
✅ Have Your Documents Ready: Gather payslips, proof of ID and recent bank statements before your start. Missing paperwork is one of the biggest causes of delays.
✅ Be Responsive: Reply to your broker or solicitor quickly when they need request information so your case keeps moving.
✅ Choose the Right Lender: Some lenders are known for quicker turnaround times than others.
✅ Work with an Expert Broker: A broker can recommend lenders with faster approvals and keep your application progressing.
✅ Check for Break Fees: Review your current mortgage terms so you don’t get slowed down by unexpected charges that can delay or derail your plans.
How MortgageLine Helps Speed Up Your Remortgage Process
At MortgageLine, we don’t just point you in the right direction, we make the remortgage process as straightforward as possible. Our expert mortgage advisors:
- Compare the best switcher mortgage deals in Ireland
- Handle the paperwork from application to drawdown
- Liaise with your solicitor during the remortgage conveyancing process to keep things moving
- Offer real-time updates so you’re never in the dark
Whether you’re remortgaging to lower your rate, release equity to fund renovations or buy a second property, our team can guide you every step of the way, from the first application to the moment funds are released
👉 Find the remortgage deal for you today, and start your switch with confidence.
FAQs
What is the quickest way to remortgage?
The fastest way to remortgage is to work with a broker. Work with a broker like MortgageLine, have your documents ready, and choose lenders with fast turnaround times. Some remortgages can complete in as little as 3–4 weeks.
How long does it take for remortgage funds to be released?
Once all legal checks are complete and documents signed, funds will usually released within a few days to a week.
How fast can I remortgage?
If there are no complications, the full mortgage process typically takes 6 to 8 weeks, especially if you use an experienced mortgage broker like MortgageLine to guide you every step of the way.
