For transparency and the avoidance of any doubt, our fees are below. Should you choose to instruct us, a tailored estimate of price will be provided based on your circumstances and the transaction and set out in our Engagement Letter.
The day to day work is carried out by Janice Colley, a Consultant Conveyancer and Solicitor and supervised by Richard Cramer, Managing Director and Solicitor.
|Freehold Re-mortgage Costs||Amount (excluding any VAT applicable)|
|Our Legal Fees||Range from £400 and £1,150* (plus VAT)|
|Bank Transfer Fee (for each transfer made over £30,000)||£25 (plus VAT)|
|Electronic ID Search Verification (per name checked)||£6 (plus VAT)|
|Anticipated Expenses *|
|Land Registry Documents (estimate) (Register and Title Plan, £3 per document plus VAT)||£6 (plus VAT)|
|Land Registry Search Costs (OS1)||£2 (plus VAT)|
|Bankruptcy Search Costs (per person)||£3 (plus VAT)|
|Value of the Property||Our Legal Fees (excluding VAT)|
|Up to £250,000||£450 – £550|
|£250,000 – £500,000||£550 – £650|
|£500,000 – £750,000||£650 – £750|
|£750,000 – £1million||£750 – £950|
|£1million – £1.5million||£950 – £1,150|
* for properties with a value of £1.5million and above, fees will be provided upon request
** not listed in these expenses or included in our legal fees is:
Services included in this price:
The above range of figures are based of the re-mortgage of an existing residential freehold property by one or more individuals (as opposed to a company or business partnership) with a title which is already registered at HM Land Registry and with a mortgage from a traditional high street mortgage lender. Most re-mortgages in England and Wales will fall within this category. Our fees include the following work:
Factors that may affect the price that you have to pay:
Additional work may need to be carried out on your re-mortgage which we are not aware of at the outset but which leads to an increase in our legal fees and/or the third party expenses which you will need to pay. If any such additional costs arise we will tell you about them as soon possible. Examples of situations that might lead to an increase in costs include:
How long it will take from your new mortgage being agreed until you receive the proceeds will depend on a number of factors. The average process ordinarily takes from 3 to 4 weeks.
It can be quicker or slower, depending on how long it takes for the formal mortgage offer to be issued by the lender and whether, for example, the property is freehold or leasehold.
Key Stages in the Re-Mortgage Process:
The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. The following are the key stages of a typical transaction: