Re-mortgage Price Guide

Description	Value/Amount of Property (£)	Freehold Fees	Leasehold Fees
Re-Mortgage	Set Fee Regardless of Property Price	£400.00 + VAT	£450.00 + VAT

 

VAT charged at 20%

Our fees cover all of the work required to complete the re-mortgage of your property additional fees and disbursements maybe incurred depending the requirements of the mortgage lender. These can include:

Fees

ID Check - £8.33 + vat

Electronic Money Transfer Fee - £30.00 + vat

Disbursements

Land Registry Searches (estimated) - £20.00 + vat

Bankruptcy Searches (per person) - £2.00 + vat

Local Searches* - £60.00 inclusive of vat

Chancel Check Insurance - £15.33 inclusive of IPT

HMRC Land Registry Fee - Charge is dependent on the value of the property and the nature of the application and ranges from £20.00 to £910.00

*Alternatively, no search indemnity insurance, if acceptable to your lender, can be purchased in place of Local Searches

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

If the re-mortgage property is leasehold there maybe are certain disbursements depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease.

You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.

How long it will take from your offer of mortgage being generated to the matter completing will depend on a number of factors and the average process takes between 3 - 6 weeks. It can be quicker or slower, depending on the requirements of the mortgage lender.

The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. However, here are some key stages in the process:

• Take your instructions and give you initial advice
• Check finances are in place and contact lender's solicitors if needed
• Carry out searches or obtain quotation for no search indemnity insurance
• Give you advice on all documents and information received
• Go through the offer of mortgage offer with you
• Send mortgage deed
• Obtain a redemption figure if you are changing lender
• Obtain pre-completion searches
• Agree completion date
• Arrange for all monies needed to be received from lender and you
• Complete the re-mortgage
• Repay existing mortgage of the lenders charge
• Deal with application for registration at Land Registry

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 requires 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 complication arise
3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
4. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.