Our fees cover all the work required to complete the re-mortgage of your property.
They are determined by the value and complexity of the transaction and will also consider any work required to deal with any unusual aspects of the remortgage.
We offer a standard fixed fee for our residential property transactions where there are no complicating factors (see above).
Our standard fixed fees start at £1,000 plus VAT* and disbursements and increase in line with the value of the property.
If your remortgage falls through before it is completed, we will charge for the time spent to that point. In these cases, our fees will never exceed the agreed fixed fee and charges for dealing with complicating factors.
Additional fees
Additional charges for complicated factors are dependent on the time required. Hourly rates are dependent on the experience of the solicitor handling the transaction and range from £175 to £300 plus VAT*.
We will provide you with an estimate of the total additional charges either at the outset or when we become aware of any complicating factors.
| Disbursement | Estimated prices |
|---|---|
| Searches (if required) including but not limited to: Local land charge register Standard enquiries the local authority Drainage Environmental Planning history Recommended searches (e.g. mining or flood risk) | £300-400 per document |
| Transferring funds as a same-day payment (e.g. to pay a debt, mortgage, loan, or legal claim attached to you or your property) | £57 inc. VAT* |
| ID check | £14.40 inc. VAT* per person |
| Search indemnity insurance (taken in lieu of the above searches if your lender accepts) | £50 – £100 inc. VAT* |
| For leasehold properties, a sales information pack from the landlord/managing agent | £100 to in excess of £500 inc. VAT* |
| Pre-completion searches at the Land Registry | £7 per title. No VAT required |
| Land registry fees | Land Registry fee calculator |
| Fees payable to a third party (e.g. rent-charge collector or landlord, managing agent) | Varies |
How long will my remortgage take?
- Taking instructions and providing initial advice
- Obtaining contract, title and supporting information documents from the Land Registry
- Obtaining an information pack from any landlord or managing agent if the property is leasehold
- Reviewing the title and supporting documents and raising necessary enquiries
- Obtaining the usual property searches or if your lender accepts, obtain insurance quotes in lieu of searches
- Receiving mortgage instructions, ensuring compliance with any conditions
- Obtaining your signature on the mortgage deed and any other documents
- Taking instructions on suitable completion dates
- Obtaining settlement figures for any existing charges which are being repaid on completion
- Preparing a statement of account and obtaining any balance required from
- Completing the new mortgage and redeeming any existing charges
- Registering the new mortgage with the Land Registry
- Serving a notice of charge on any relevant third parties
- Implementing any search indemnity insurance as necessary
- Providing you with confirmation of the registration of the new charge
- Providing your mortgage lender with a copy of the updated title documents
Note: the precise stages involved in the remortgage of a residential property vary according to the circumstances.
*VAT is currently applied at a rate of 20%.
