Re-mortgage of a freehold residential property
Our fees cover all of the work* required to complete the re-mortgage of your home, including dealing with registration at the Land Registry.
Conveyancer’s fees and disbursements
- Legal fee: Please refer to our table of legal fees below.
- VAT payable on legal fees: Please refer to our table of legal fees below.
- Obtaining copy Land Registry title documents: £3 per document (minimum £6. Usually no more than £20) (no VAT).
- Property Related Search fees** (standard pack): £171 (no VAT).
- Pre-completion bankruptcy searches: £2 per search (no VAT).
- Pre-completion Land Registry search: £3 per search (no VAT).
- HM Land Registry fee: Please refer to our table of Land Registry fees below.
- Electronic money transfer fee £36 (inclusive of VAT).
A tailored fee quote will be provided to you on application.
*Our fee assumes that:
- this 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.
- this is the re-mortgage of the whole of an existing registered property that you own already and that no transfer of equity or legal title is required.
- drawdown of the mortgage is unconditional and will not be paid in tranches.
- the transaction is concluded in a timely manner and no unforeseen complications arise.
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties.
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
Please view our What is included information sheet to let you know the services that are included in the above fees. Please view our What is not included information sheet to let you know some of the issues that may arise and that will attract an additional fee. Please note that this is not an exhaustive list and prices may vary depending on the complexity of the transaction or the issue that has arisen.
Unless otherwise stated, additional work will be billed in accordance with the Conveyancer’s hourly rates.
** Some lenders will accept “No Search Insurance” which may cost less than searches. We will let you know if we are able to use insurance.
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
How long will my re-mortgage take?
How long it will take from receipt of your mortgage offer to completion of your re-mortgage will depend on a number of factors. The average process takes between 4 and 6 weeks.
It can be quicker or slower, depending on the nature and location of the Property and the requirements of your lender.
Stages of the process
The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. However, the stages listed below occur in a typical freehold re-mortgage transaction:
- Take your instructions and give you initial advice
- Receive and advise on mortgage offer
- Carry out searches and/or obtain a quote for search insurance
- Obtain your replies to standard questionnaires, review the title to the Property and check that all alterations to the Property were authorised under planning law and building regulations
- Obtain pre-completion searches
- Report to your lender and request completion funds
- Arrange for all monies needed to be received from lender and you
- Complete re-mortgage and redeem your existing mortgage
- Deal with application for registration at Land Registry