Our fees set out below cover all of the work reasonably required to complete the remortgage of your owner occupied home with a loan below £500,000.00.
Our fees and disbursements
- Legal fee £750.00 / £800.00 (leasehold)
- Customer due diligence fee (CDD fee) £15 plus VAT per client
- Search indemnity fees £30.00 no VAT
- Electronic money transfer fee £35.00 plus VAT
- File archiving fee £10.00 plus VAT
- HM Land Registry fee £40.00 (disbursement not subject to VAT)
- Land Registry search fee £7.00 plus VAT per title
- Bankruptcy Search £6.00 plus VAT per name
- VAT payable £162.40 (will vary depending on CDD fee)
Estimated total: £1050.40
If your remortgage is for an amount greater than £500,000.00, our charges will be higher and a tailored estimate will be provided on request. If your borrowing is in any way non-standard (for example you are obtaining funds from a third party, a buy to let mortgage or any form of bridging finance) our charges will be higher and a tailored estimate will be provided on request.
If your matter is dealt with by a partner in the firm, or a senior associate an uplift of at least 25% will generally apply to our estimated fees.
Our estimate assumes that :
- You co-operate in promptly providing instructions and documents we may request from you and that a reasonable level of contact takes place between us (we define reasonable contact as our spending no more than one hour dealing with your telephone calls, emails and letters over the course of your transaction)
- There are no linked transactions
- You lender (if you have one) applies no special conditions to your borrowing
- The property is not in London
- Any necessary building regulations or planning permissions are in place
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.
If your remortgage does not complete, we reserve the right to charge you a percentage of our estimated legal fee for the work we have undertaken. You are referred to the stages of the process below. We will charge you up to 25%, on opening your file and beginning correspondence, 25% to 50% if we have started to deal with any searches required by your lender and 50% to 100%, if the matter is otherwise ready for completion. Please note that if any search or money transfer fees have become due or disbursements paid out, they will be payable in full
In some instances, there may be additional fees payable to those quoted which will very much depend on your own individual transaction. A list of the more common issues arising and fixed fees for in dealing with them can be found here.
How long will my remortgage take?
How long it will take from your mortgage offer being received until your remortgage completes will depend on a number of factors. The average process takes around 4 weeks from receipt of your mortgage offer.
Stages of the process
The precise stages involved in the remortgage of a residential property vary according to the circumstances. However, we set out below the key stages of the process:
- Take your instructions, provide initial advice and send you our client care pack
- Confirm your identity
- Request the title deeds to your home from your existing lender and the Land Registry
- Obtain a redemption statement from any current lender with a mortgage / charge over your home
- Carry out any searches required by your new lender
- Obtain further planning documentation if required
- Go through conditions of any mortgage offer with you
- Arrange for the mortgage deed to be signed
- Agree a completion date
- Arrange for all monies needed to be received from lender
- Complete your remortgage
- Deal with application for registration at Land Registry
A profile of all of our residential conveyancing staff is available on this website via the links below :
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