Conveyancing Pricing Information
Remortgages
Legal costs
There are two main elements to the legal costs of remortgaging a property
- our charges;
- expenses we must pay out on your behalf
Our charges
Our charges and the expenses we have to pay out on your behalf will vary depending upon your circumstances. In order that we may provide you with an accurate no-obligation quote, please or call us on 01457 835597.
To give you an idea of the usual costs, they range from £530 to £875 plus VAT based on the new mortgage loan amount for no transfer of title and £630 to £975 plus VAT with transfer of title.
| New Mortgage Loan Amount | Our fee (no transfer of title) | Our fee (with transfer of title) |
|---|---|---|
| Up to £125,000 | £530 + VAT | £630 + VAT |
| £125,001 – £250,000 | £580 + VAT | £680 + VAT |
| £250,001 – £500,000 | £675 + VAT | £775 + VAT |
| £500,001 – £999,999 | £775 + VAT | £875 + VAT |
| £1,000,000 | £875 + VAT | £975 + VAT |
Typical disbursements for re-mortgages
| Electronic ID verification | £5 + VAT = £6 |
| Lawyer Checker | £10 + VAT = £12 |
| Bankruptcy search per name | £2 |
| Land registry fees | £30 |
| BACS payment | £20 + VAT = £24 |
| TT payment fee | £25 + VAT = £30 |
| Land registration fees | £95-£2,435 depending on property value, postal applications and voluntary first registrations. |
Likely timescale and key stages
A typical straightforward remortgage usually takes 4-6 weeks from receiving your instructions to completion. Of course, it is difficult to confirm at the outset whether your matter will be “straightforward”, there may be complications along the way such as issues with search results, delays caused by your existing or proposed new lender, etc. Whilst we are unable to predict any such delays, communication is key and we will ensure that you are updated at every stage along the way.
Most matters of this nature involve the following key stages:
- We will request a redemption statement from your current lender.
- If searches are required by your new lender, we will arrange for these to be undertaken
- We will review the mortgage deed and if you are happy with the same, we will arrange for signature.
- We will undertake a bankruptcy search
- Completion – Your new lender will forward the mortgage funds to us. We will redeem your existing mortgage and return the balance of the monies to you.
Our expertise
Our team has over 30 years of collective experience in delivering high-quality work in all matters relating to residential conveyancing. The team has particular expertise in residential sales, purchases, re-mortgages and transfers of equity.
For details of the members of the team who may work on your matter, please see: our conveyancing page.
