Cost Information: Mortgage or Re-mortgage

 

Mortgage/Re-mortgage of a residential property

 

Our fees cover all the work* required to complete the mortgage/re-mortgage of your property, including dealing with the redemption of any existing mortgage if required.

 

Conveyancer's fees*

From £600 plus Vat

Disbursements

• Land Registry fee - £95 to £295
• Electronic money transfer fee £34.80

 

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.

 

If we are required to send funds by BACS/Bank Transfer, an administrative fee may have to be charged.

 

Disbursements may be chargeable for VAT at 20%.

Stages of the process

The precise stages involved in the mortgage/re-mortgage of a residential property vary according to the circumstances.

 

• Taking your instructions and giving you initial advice
• Obtaining a redemption figure from your existing lender
• Carrying out searches
• Going through conditions of the mortgage offer with you
• Completing the mortgage deed
• Agreeing a completion date
• Arranging for all monies needed to be received from your new lender and you
• Redeeming the existing mortgage
• Dealing with application for registration at H M Land Registry

 

How long will my mortgage/re-mortgage take?

This will depend on a number of factors. The average process takes between 4 and 12 weeks.

 

* Our fee assumes that:
A      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  
B      the transaction is concluded in a timely manner and no unforeseen complications arise
C      all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
D      no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

 

Any additional work will either be carried out at an additional fixed fee or at an hourly charging rate of £95 plus Vat.

 

We will be happy to discuss our fees and your particular requirements in more detail with you before you make a decision whether or not to instruct us.