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Changing from one lender to another sounds easy, and can be done very quickly, but you have to remember that your solicitor acts for your new lender as well as you. Your new lender will want your solicitor to ensure that the legal title of the property against which their loan will be secured is acceptable and meets their requirements. Often lenders will allow solicitors to put search indemnity insurance in place when the re-mortgage completes instead of carrying out costly and time-consuming searches as required for a purchase. If this is the case, then your solicitor will check the legal title of your property and perhaps ask you questions about it before calling you in to the office to sign the new mortgage deed. You may also be asked to let your solicitor see copies of documents such as planning consents and building regulation approvals that affect the property.
Once the mortgage deed has been signed, the new mortgage advance can be 'drawn down' and the old mortgage will be paid off by your solicitor on completion of the re-mortgage. Your new mortgage will be registered at the Land Registry by your solicitor and a copy of the title will be sent to you.