Re-mortgage of a Residential Freehold Property - Pricing

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 CostsAmount (excluding any VAT applicable)
Our Legal FeesRange 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 PropertyOur 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:

  • HM Land Registry Registration Fee, which is based on the purchase price of the property
  • A ‘No search’ insurance policy which some lenders may require, and the cost of which varies between insurer and the property in question

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:

  • Setting up your file
  • Checking and processing your instructions including carrying out the identity and anti-money laundering checks that we are required by law to carry out
  • Checking the title deeds
  • Obtaining indemnity insurance in lieu of searches
  • Preparing paperwork for you to sign
  • Liaising with your mortgage lender and ensuring any conditions attached to the release of the mortgage money are satisfied
  • Obtaining redemption statements in respect of any existing mortgages on the property
  • Completing your re-mortgage
  • Ensuring the re-mortgage is registered with HM Land Registry
  • Closing and storing your file in accordance with our data retention policy
  • Keeping you and any relevant third parties updated throughout as appropriate

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:

  • If the property is leasehold
  • If the property is freehold but there are estate maintenance charges to pay
  • If you are buying in a company name
  • You are re-mortgaging a share in a property jointly owned by a housing association (shared ownership)
  • The property hasn’t previously been registered at Land Registry
  • You are taking a mortgage from a non-high street lender
  • There are problems with the title deeds
  • The property is currently let or you intend to let it
  • We have to order conveyancing searches (if your lender does not accept insurance)
  • The legal owners of the property are different to those who are taking out the mortgage
  • There is a mortgage on the property that you don’t intend to repay
  • We have to pay a referral fee to the professional who referred you to us

Typical Timescales:

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:

  • Take your instructions and give you initial advice
  • Obtain copies of the title deeds
  • Review the legal title
  • Obtain amount owing statements from your mortgage lender(s) and check that the new mortgage advance will be sufficient to repay all existing debts
  • Review the mortgage offer and deal with any special conditions
  • Send the mortgage deed to you for signature
  • Agree a completion date (date on which you will receive the re-mortgage proceeds)
  • Complete the re-mortgage
  • Pay off your existing mortgage and obtain discharge documents from the lender
  • Deal with application for registration at Land Registry
We’re not like many other law firms; we only practice law in a few specialist areas that require skill, knowledge and experience. Call or email for a no obligation chat with one of our partners.
© 2023 Front Row Legal – All Rights Reserved. Front Row Legal and Legal Surgery by Front Row Legal are trading names of Front Row Legal Limited, registered in England & Wales. Registered Number: 8351502. Registered office address: Suite 1a, Chapel Allerton House, 114 Harrogate Road, Leeds, LS7 4NY and is authorised and regulated by the Solicitors Regulation Authority, – ID number 618700.
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