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Yes, you can get a mortgage for an auction property, but you’ll usually need to arrange your finances and legal advice before you bid. While many auction properties are suitable for a standard mortgage, auction purchases work to much tighter deadlines than buying through an estate agent. Being prepared before auction day can make the difference between completing successfully and losing your deposit. Unlike a traditional purchase, you’re normally legally committed to buy the property as soon as the auction ends. That’s why it’s important to have an Agreement in Principle, instruct a conveyancing solicitor and review the auction legal pack before placing a bid. At TBI Conveyancing, we help buyers prepare with confidence by reviewing legal packs, identifying potential risks and managing the legal process from instruction through to completion. In this guide, our conveyancing solicitors cover: Can You Buy an Auction Property with a Mortgage? Unlike buying a property through an estate agent, you’re usually legally committed to buy the property as soon as the auction ends. Completion is often required within 20 to 28 days, leaving little time to arrange your mortgage after you’ve won. It’s also worth remembering that not every auction property is suitable for a standard mortgage. Some properties have structural, legal or other issues that may affect whether a lender is willing to lend. We’ll explain these in more detail later in this guide. How Does Buying an Auction Property with a Mortgage Work? Buying an auction property with a mortgage is very different from a traditional property purchase. Most of the preparation happens before auction day, allowing you to move quickly if your bid is successful. Here’s how the process typically works: 1. Find a Suitable Property Search for a property that meets your needs and is likely to be suitable for mortgage lending. If you’re unsure, seek advice before bidding. 2. Arrange an Agreement in Principle An Agreement in Principle (AIP) gives an indication of how much you may be able to borrow. Although it isn’t a mortgage offer, it helps you set a realistic budget. 3. Instruct a Conveyancing Solicitor Choose a conveyancing solicitor before the auction. At TBI Conveyancing, we can review the legal pack, explain any legal risks and help you make an informed decision before you bid. If you’re new to buying property, our guide on what is conveyancing explains how the legal process works. 4. Review the Legal Pack The legal pack contains important information about the property, including the title documents, searches, lease details and any special conditions of sale. Reviewing it early helps identify potential issues before you’re legally committed. 5. Attend the Auction and Place Your Bid If you’re happy with the property’s condition, legal position and your finances, you can bid with confidence. 6. Win the Auction When the hammer falls, contracts are usually exchanged immediately. You’ll normally pay the deposit on the day and become legally committed to complete the purchase. 7. Finalise Your Mortgage Your lender completes the remaining checks, carries out a valuation if required and issues the formal mortgage offer. 8. Complete the Purchase Your solicitor completes the legal work, receives the mortgage funds and transfers the remaining balance before the completion deadline. 9. Register Ownership After completion, your solicitor registers your ownership and your lender’s legal charge with HM Land Registry. Although the process is straightforward, success depends on preparation. By arranging your finances and legal advice before the auction, you’re far more likely to complete on time and avoid unnecessary problems. What Should You Arrange Before Bidding? The best time to prepare for an auction purchase is before you place a bid, not afterwards. Once the hammer falls, you’re usually legally committed to buy the property. That’s why buying a house at auction requires more preparation than a traditional property purchase, particularly if you’re relying on a mortgage. Obtain an Agreement in Principle An Agreement in Principle (AIP) is a statement from a lender confirming how much they may be willing to lend based on your financial circumstances. Having an AIP before the auction helps you set a realistic budget and gives you confidence when bidding. However, it isn’t a guarantee that your mortgage application will be approved. Your lender will still assess the property and carry out further checks before issuing a formal mortgage offer. Speak to a Mortgage Broker or Lender Before bidding, check that the type of property you’re buying is likely to be acceptable to your chosen lender. Some lenders are more experienced with auction purchases than others, while certain properties may not meet every lender’s requirements. Speaking to a mortgage broker or lender early can help you understand your options and reduce the risk of unexpected problems after the auction. Instruct a Conveyancing Solicitor A conveyancing solicitor does much more than complete the legal paperwork after you’ve bought the property. As explained in what is conveyancing, much of the legal work begins before contracts are exchanged, making early advice especially important when buying at auction. At TBI Conveyancing, we review auction legal packs, explain potential legal risks and highlight issues that could affect the property’s value, mortgageability or future saleability. Identifying these problems before you bid allows you to make an informed decision and avoid costly surprises. Review the Auction Legal Pack The auction legal pack contains essential information about the property and should always be reviewed before the auction. It may include: Some legal packs already include property searches, while others don’t. If additional searches are needed, understanding how long do searches take when buying a house can help you appreciate why it’s important to begin the legal process as early as possible. If you’re unsure about anything in the legal pack, ask your conveyancing solicitor to explain it before auction day. The more preparation you complete before the auction, the smoother the buying process is likely to be afterwards. Organising your mortgage, taking legal advice and understanding the property before bidding can significantly reduce the risks once you’re

If you’ve built up equity in your home, remortgaging could allow you to unlock some of its value without moving house. In simple terms, it means replacing your current mortgage with a new one while borrowing some of the equity you’ve built up over time. Many homeowners choose to do this to pay for home improvements, consolidate debts or help family members financially. Like any major financial decision, remortgaging deserves careful thought. The right option for one homeowner may not be right for another. That’s why it’s important to understand how the process works before you commit. At TBI Conveyancing, we know that remortgaging can seem complicated at first. The good news is that it doesn’t have to be. In this guide, we’ll explain everything in plain English allowing you to make an informed decision. Read on to discover What Does It Mean to Remortgage to Release Equity? Remortgaging to release equity means replacing your current mortgage with a new one and borrowing extra money against the value you’ve built up in your home. Instead of selling your property, you unlock some of its equity as a lump sum. Many homeowners use the money to improve their home, consolidate debts or pay for other major expenses. To understand how this works, it helps to know what equity actually is. Equity is the difference between your home’s current market value and the amount you still owe on your mortgage. The larger that gap becomes, the more equity you have. Most homeowners build equity in two ways. The first is by making regular mortgage repayments. As your mortgage balance falls, the share of your home that you own increases. The second is through rising property prices. If your home’s value increases over time, your equity can grow even if you’ve only owned the property for a few years. What This Looks Like In Practice Property value £350,000 Mortgage remaining £180,000 Total equity £170,000 Having £170,000 of equity doesn’t automatically mean you can borrow all of it. Most lenders will only lend up to a certain percentage of your property’s value. This is known as the loan-to-value (LTV) ratio. Let’s say a lender is prepared to lend up to 75% of your property’s value. Your borrowing could look like this: Maximum mortgage at 75% LTV £262,500 Existing mortgage to repay £180,000 Potential equity available £82,500 If your application is approved, your existing mortgage is repaid using the new mortgage. The remaining £82,500 is then paid to you. You can usually spend the money however you choose, whether that’s renovating your home, helping a family member or paying off existing debts. Although it’s called releasing equity, you’re actually increasing the amount you borrow against your home. That means your mortgage balance will be higher, and your monthly repayments could increase too. It’s also important to remember that lenders don’t base their decision on your available equity alone. They’ll also look at your income, affordability, credit history and other financial commitments before deciding how much they’re willing to lend. If you’re wondering what happens after your mortgage offer is approved, our guide on do you need a solicitor to remortgage explains why a conveyancing solicitor is involved. If you’re ready to go ahead, our remortgaging conveyancing team can handle all of the legal work and keep your remortgage moving smoothly from start to finish. Why Do People Remortgage to Release Equity? People choose to remortgage and release equity for many different reasons. There’s no single right answer. It all comes down to your financial circumstances, your long-term plans and whether taking on additional borrowing makes sense for you. One of the most common reasons is home improvements. Whether you’re renovating a kitchen, converting a loft or updating an older property, using equity can help spread the cost over a longer period. Many homeowners also choose to build an extension, especially if they need more space but don’t want the expense and disruption of moving house. Debt Consolidation Some people use a remortgage for debt consolidation. By paying off higher-interest borrowing, such as credit cards or personal loans, they may be able to reduce their monthly outgoings. However, it’s important to remember that you’re turning unsecured debts into borrowing that’s secured against your home. Before making this decision, it’s worth seeking independent financial advice. Another common reason is helping family members. Some parents choose to release equity to provide a deposit or financial gift that helps their children buy their first home. Others use the money to pay school or university fees, making it easier to spread large education costs over time. For homeowners looking to grow their wealth, releasing equity can also provide funds to buy an investment property. Some people use it to purchase a buy-to-let property, while others invest in a holiday home or another long-term asset. As with any investment, there are risks, and it’s important to understand the financial commitment involved. Others choose to release equity to fund a business. This could mean starting a new venture, expanding an existing company or investing in equipment and premises. While this can provide access to capital, it also means your home is supporting the borrowing, so the risks should be carefully considered. Can You Remortgage to Release Equity? Yes, you can remortgage to release equity if you meet your lender’s eligibility criteria. The amount you can borrow will depend on several factors, not just how much equity you’ve built up in your home. Most lenders will start by looking at how much your property is worth and how much you still owe on your existing mortgage. They’ll use this to calculate your loan-to-value (LTV) ratio, which helps determine the maximum amount they’re prepared to lend. Lenders will also assess whether you can comfortably afford the new mortgage. They’ll consider your income, regular outgoings and existing financial commitments. Your credit history will also play an important role, as it helps lenders understand how you’ve managed borrowing in the past. Every lender has its

In most cases, yes. If you are remortgaging with a new lender, you will usually need a conveyancing solicitor. A Conveyancing Solicitor will: Although you’re not moving home, important legal checks still need to be completed. These protect both you and your new lender. There are some exceptions. For example, you may not need a solicitor if you’re simply switching to a new mortgage product with your existing lender. This is known as a product transfer. Whether legal work is required depends on your circumstances and your lender’s requirements. At TBI Conveyancing, we help homeowners across England and Wales remortgage with confidence. Our experienced conveyancing solicitors provide clear advice, proactive communication, and practical support throughout the process. In this guide, you’ll learn: Do You Always Need a Solicitor to Remortgage? If you’re remortgaging with a new mortgage lender, you’ll usually need a conveyancing solicitor to complete the legal work. Although you already own the property, your new lender still needs certain legal checks before it can release the mortgage funds. Your solicitor ensures these checks are completed and that the remortgage is registered correctly. The main exception is a product transfer. This is where you stay with your existing mortgage lender but switch to a different mortgage product, such as moving from one fixed-rate deal to another. Because the lender isn’t changing, there is often less legal work involved and a solicitor may not be required. However, a product transfer doesn’t always mean you can avoid legal advice. If you’re borrowing additional money, releasing equity, changing ownership of the property, or adding or removing someone from the mortgage, legal work is usually still required. Your lender’s own requirements will also influence whether a conveyancing solicitor needs to be involved. The table below provides a general guide to when a solicitor is usually needed. Remortgage scenario Is a solicitor usually required? Switching to a new mortgage lender Yes Staying with the same lender (product transfer) Usually no Borrowing additional money Yes not always Releasing equity Yes Transfer of equity Yes Adding or removing a joint owner Yes The type of remortgage you’re completing is the biggest factor in determining whether legal work is needed. If a new lender is involved, or the legal ownership of the property is changing, a conveyancing solicitor will almost always be required. Even where legal work appears minimal, your lender may still insist on using a solicitor to protect its interests and ensure the remortgage is completed correctly. Why Do You Need a Solicitor When Remortgaging? Although you’re not moving home, a remortgage still changes the legal agreement secured against your property. Before your new mortgage can complete, your lender needs to know that everything is legally correct. A conveyancing solicitor carries out these checks to protect both you and your mortgage lender. Their work helps ensure the remortgage is completed safely, accurately, and without unnecessary delays. Conveyancing solicitors do this by: Why These Checks Matter Imagine your solicitor discovers a restriction on your property’s title before completion. Without resolving it, your lender may be unable to register its legal charge, delaying your remortgage. By identifying issues early, your solicitor has time to resolve them before completion. This helps your remortgage proceed smoothly and reduces the risk of legal problems later. If you’d like to understand this process in more detail, read our guide on What Is Conveyancing? Common Remortgage Scenarios Every remortgage is slightly different. The legal work depends on why you’re changing your mortgage and whether your lender or property ownership is changing. If you’re unsure which process applies to you, the examples below explain the most common remortgage situations. I’m Switching to a New Mortgage Lender This is the most common type of remortgage. You’re replacing your existing mortgage with one from a different lender, often to secure a better interest rate or more suitable mortgage product. Before the new mortgage can complete, your existing loan must be repaid and the new lender’s legal charge registered against your property. Your conveyancing solicitor manages this process, carries out the legal checks required by the lender, and ensures the change is correctly recorded with HM Land Registry. I’m Staying With My Existing Lender (Product Transfer) A product transfer is different from a traditional remortgage. Instead of moving to another lender, you’re switching to a new mortgage deal with your current provider. Because the lender isn’t changing, there is often much less legal work involved. In many cases, a solicitor isn’t needed because the existing legal charge remains in place. However, legal work may still be required if you’re borrowing additional funds, changing the ownership of the property, or if your lender has its own legal requirements. I’m Releasing Equity Releasing equity means increasing your mortgage so you can access some of the value built up in your home. Homeowners often do this to fund renovations, repay debts, or cover other major expenses. Although you already own the property, your mortgage is changing. Your lender will usually require legal checks before releasing the additional funds. Your solicitor ensures the updated mortgage is completed correctly and that the new legal charge is registered. If you’re considering this option, read our guide on How to Release Equity from Your Home. I’m Borrowing More Money You may wish to increase the amount you borrow without changing your overall reason for remortgaging. This is common when funding home improvements or other significant purchases. Because the lender is increasing the amount secured against your property, it may require additional legal checks. Your solicitor reviews the property’s title, deals with any legal issues, and ensures the updated mortgage can be registered correctly. I’m Removing Someone From the Mortgage Removing someone from a mortgage usually involves a Transfer of Equity. This changes the legal ownership of the property, not just the mortgage itself. Your lender must normally approve the change before it can go ahead. A conveyancing solicitor prepares the legal documents, obtains the lender’s consent, and updates the ownership records with