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, David Dresser, a Consultant Conveyancer and Solicitor and supervised by Richard Cramer, Managing Director and Solicitor.
(The prevailing rate of VAT is 20%, however it is subject to change and in the event that it changes, we will endeavour to update you.)
| Leasehold Re-Mortgage Costs | Amount (excluding any VAT applicable) |
|---|---|
| Our Legal Fees | Range from £550 - £1,150* (plus VAT) |
| Bank Transfer Fee (per mortgage repaid) | £30 - £49 (plus VAT) |
| Electronic Identity Check (per name checked) | £10 - £17 (plus VAT) |
| Anticipated Expenses | |
| Land Registry Documents (Leasehold Register and Plan, Freehold Register and Plan and Lease) | £15 (plus VAT) £3 per document (plus VAT) |
| Land Registry Search Costs (OS1) | £3 (plus VAT) |
| Bankruptcy Search Costs (per name searched) | £2 (plus VAT) |
| Value of the Property | Our Legal Fees (excluding VAT) |
| Up to £250,000 | £550 – £650 |
| £250,000 – £500,000 | £650 – £750 |
| £500,000 – £750,000 | £750 – £850 |
| £750,000 – £1million | £850 – £950 |
| £1million – £1.5million | £950 – £1,150 |
** not listed in these expenses or included in our legal fees is:
The fees and disbursements on this page relate to fees and disbursements for direct instructions provided by clients to Front Row Legal Ltd. We also carry out work (both dual and separate representation work) instructed by mortgage lenders or introduced by other organisations where we work to fee scales set by others, which are likely to result in clients being charged fees different to those set out above.
What is included in this price and what factors might affect the price that you have to pay?
The above range of are based of the re-mortgage of an existing residential leasehold 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 of leasehold property in England and Wales will fall within this category. Our fees include the following work:
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 fees and/or the third party expenses you have to pay. If any such additional costs arise we will tell you about them as soon as possible. Examples of situations that might lead to an increase in costs include:
How long will the re-mortgage of the leasehold property take?
How long it will take from your mortgage being agreed until you receive the proceeds will depend on a number of factors. The average process takes between three to four weeks.
It can be quicker or slower, depending on how long it takes for the formal mortgage offer to be issued and whether for example the property is freehold or leasehold. If you are re-mortgaging a leasehold property that requires an extension of the lease, this can take significantly longer, between three and four months. In such a situation, additional charges may apply.
Key Stages of the Re-mortgage Process
The exact stages involved in the re-mortgage of a residential leasehold property vary according to the individual specific circumstances. However, the following are the key stages of a typical re-mortgage:
FRONT ROW LEGAL LTD – 30 October 2023
"Robina is a diligent solicitor whom I have worked with since starting out in practice myself. She has a detailed understanding of employment and contractual issues and an excellent grasp of practical realities."
Paul Smith, Barrister at Broadway House Chambers
