Remortgaging Residential Property

The Basics

It is difficult to predict how long a conveyancing transaction will take and each transaction is dependent on various factors.  A standard transaction can take some 6-8 weeks to complete.  Where we need to liaise with third parties, we are somewhat reliant on their turnaround times in addition to our own work.  We will keep you up to date and inform you if we anticipate any delays.

Steps involved

Pre-completion

  1. Obtaining information from your current mortgage lender;
  2. Checking the title to the property;
  3. Dealing with the requirements of your new mortgage lender and ensuring that its interests are property protected;
  4. Making the pre-completion legal arrangements and checks;
  5. Obtaining as appropriate the mortgage money from your new mortgage lender and any balance we shall need from you;

On completion

  1. Receiving the mortgage money from your lender;
  2. Paying off your existing mortgage (if applicable);
  3. Sending any surplus to you;

Post Completion

  1. Registering the new mortgage at the Land Registry and sending you a copy of the Land Registry entries; and
  2. If leasehold, registering the new mortgage with the Landlord.

Our Prices

No purchase is the same and therefore our fees will reflect the individual circumstances of your purchase.  Conveyancing matters are charged on a fixed fee basis.

We will always provide an individual cost estimate before you instruct us and you can obtain this through our conveyancing calculator (click here).


Our Prices

Remortgage AmountFeeVAT
Total
£0 - £2,000,000£850.00£170.00£1,020.00


Additional Fees
Leasehold Fee£100.00£20.00£120.00
With transfer of Equity£100.00£20.00£120.00


Disbursements

Disbursements are costs incurred that are not our fees but are paid to external providers.

Search fees usually range from £300.00 - £700.00+VAT and are dependent on what searches are required and where the property is located

HM Land Registry fee can range from £6.00 - £60.00

Electronic money transfer fee £12.00 - £30.00 +VAT per transfer

 

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