Our fees and disbursements:
Our fees for the remortgage of a property are £995.00 plus VAT*
Land Registry Priority Search fee – £3.00
Bankruptcy Search fee – £2.00 per name
Search fees (includes Local Authority, drainage, environmental, Chancel, flood and planning searches) – £350.00 approximately. Note however that some lenders will accept no search indemnity insurance which is considerably cheaper and quicker to obtain. Once we have instructions from you to act in the remortgage, we will check whether it is possible to obtain search indemnity insurance.
HM Land Registry fee:
This mandatory cost is set by the Land Registry and depends on the value of the property you are re-mortgaging. The fee will range from £20.00 to £910.00.
Electronic Money Transfer fee:
£15 plus VAT per payment.
HM Land Registry Official Copies of the title
£3.00 per copy
Landlord’s registration fee for notice of mortgage (leaseholds only).
£100 + VAT where applicable
These disbursements can vary widely and we will notify you of the charge as soon as possible during the course of your remortgage.
You will only pay VAT on our legal fees and the cost to make an electronic money transfer.
For some transactions, we do pay referral fees. The amount of any referral fee will be disclosed to you at the commencement of the transaction. To be clear, these referral fees are paid by us to third parties and not by you.
What are disbursements:
These are costs related to your house or flat remortgage that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure there is no delay in your remortgage.
Typical timescales and key stages
The guide below applies in a typical remortgage where the lender is a bank/building society and not an individual. The typical remortgage transaction takes approximately 4 weeks to complete but in some instances can be completed quicker.
- Obtaining title deeds and a redemption statement
- Obtaining office copies of the client’s property title
- Carry out title checks
- In the case of leasehold properties, carry out a check of the lease and make enquiries to the landlord regarding the status of service charge and rent payments
- Check mortgage offer
- Prepare for completion
Obtain final redemption statement
- Final searches and checks
- Obtain mortgage advance and complete the remortgage
- Register changes at the Land Registry
*Our fee assumes that:
Your re-mortgage is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction. The maximum fee shown is for the value of a freehold property between £1,400,000.00 and £1,500,000.00. Please contact us for a quote if the purchase price is above £1,500,000.00