Remortgage - thick question

PierremontQuaker03

My current mortgage balance is 105k, I am looking at new deals to remortgage at a round 100k - so I want to pay 5k off my mortgage when I remortgage. What is the best way to do this, is it when the 100k balance gets transferred to a new mortgage provider and the previous provider is left with 5k owed ?? I just want to avoid any fees / penalties being involved.
Many thanks

sal_III

When you are redeeming your current mortgage you will have to pay £105k if you get a new mortgage for £100k you will have to "top-up" 5k which the Solicitor will add to the £100k from the new lender. Alternatively depending on the early repayment terms of your mortgage you can overpay the £5k in advance to bring the old mortgage balance to £100k before taking the new mortgage for the same amount.