Re-mortgage of a Residential Property

Our fees cover all of the work required to complete the transfer of equity of the property.

Conveyancer’s fees and disbursements:

Value of property                           Legal fees:

Any value                          £350.00 plus VAT                       

Electronic money transfer fee £30 plus VAT of £6

Disbursements:

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees.  We handle the payment of the disbursements on your behalf to ensure a smoother process.

Land Registry registration fee on a scale dependent on price as per link

https://www.gov.uk/guidance/hm-land-registry-registration-services-fees#scale-2-fees

Land Registry search                          £3.00

Bankruptcy search                              £2.00 per name

Office Copies                                      £6.00

No searches indemnity insurance

(if your lender accepts this)                 £20-£30

Local Search (if your lender does

Not accept indemnity insurance)         £80.00

Our fee assumes that:

1.      This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which require remedying prior to completion or the preparation of additional documents ancillary to the main transaction

2.      The transaction is concluded in a timely manner and no unforeseen complications arise

3.      All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

4.      No indemnity polices are required. Additional disbursements may apply if indemnity polices are required.

Stages of the process

The precise stages involved in the transfer of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:

  • Take your instructions and give you initial advice

  • Obtain Office Copies

  • Obtain and report on the mortgage offer

  • Obtain your signature to the mortgage

  • Carry out search/indemnity insurance

  • Check whether you have made alterations, erections or installations at the property and obtain appropriate paperwork

  • Obtain redemption figure from your existing lender

  • Agree completion date

  • Complete re-mortgage

  • Deal with application for registration at Land Registry

The process will take around 2-6 weeks.