Our fees cover all the work required to complete the re-mortgage of your property.
|Property value Less than £1M||Property value above £1M or using non-high street lender|
|Fixed legal fee for standard transaction||£1,200||£2,000|
|Total legal fee including VAT||£1,440||£2,400|
|Search fees (if required by lender)||£350 approximately|
|HM Land registry fee|
More info: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees
|Dependant on mortgage advance|
|Transfer fee||£12 per transfer|
No property is exactly the same and our fees will reflect the particular requirements of your sale. We will always give you an individual cost estimate at the start, taking into account the actual features of your re-mortgage.
* The fee outlined above assumes that:
- this is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- it is a standard high street lender
- the transaction is concluded in a timely manner and no unforeseen complication arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
The fee outlined above does not include:
- Work related to separate solicitors acting for the lender, or the lender is overseas
- Indemnity policies. Additional disbursements may apply if indemnity policies are required.
We can assist with any of the above if required, and we will provide a fee quote before we proceed. If there are any unexpected complications during the re-mortgage of the property, we will always inform you and discuss any potential consequences and impact on price before additional fees are incurred.
**Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. This list is not exhaustive and other disbursements may apply depending on the terms of the re-mortgage.
How long it will take will depend on a number of factors. The average process takes 4 weeks. It can be quicker or slower, depending on the lender.
The precise stages involved in the re-mortgage of a property vary according to the circumstances. However, below we have listed the key stages that we would typically expect in a standard property re-mortgage.
- Take your instructions and give you initial advice
- Check finances are in place if there is a deficit to repay your existing mortgage.
- Review the documentation received from the lender.
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries with you, or third parties if required.
- Give you advice on all documents and information received
- Go through conditions of mortgage offer
- Send final documentation to you to sign.
- Obtain a redemption statement Obtain pre-completion searches
- Agree completion date
- Arrange for all monies needed to be received from lender and you
- Complete the re-mortgage
- Deal with application for registration at Land Registry
Our real estate team has experience in delivering high quality work in all matters relating to conveyancing. The team has particular expertise in the sale, purchase or refinance of freehold and leasehold property, including complex transactions, for high net worth UK and overseas clients, owner occupiers, investors, clients with investment portfolios, as well as secured lending for UK and overseas lenders.
We have 10 members of the team who may work on your matter:
Adrian Horwood-Smart, Partner
Rupert Melville-Ross, Partner
Andrew Williamson, Partner
Amy Lynch, Senior Associate
Nessa Barry, Senior Associate
Louise Moore, Associate
Thomas Andrews, Associate
Zoe Johnston, Associate
Mary Sargent, Associate
Anna Lui, Paralegal
Regardless of who works on your matter, they will be supervised by Nessa Barry, Senior Associate.
Click here to view the profiles of our Real Estate team.