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Remortgage Pricing

Remortgage Pricing

Deciding to remortgage your home can be as life changing as buying your first property.  It is important that you speak to an independent mortgage adviser who can look at all the options open to you.

 

We are proud to hold the CQS accreditation issued by the Law Society which is only awarded to solicitors who can show that they maintain the highest standards of conveyancing and client care at all times.

 

Pricing

We will usually work on a fixed fee basis so that you know how much your remortgage is going to cost from the outset.  However, if there are any new developments which could lead to additional cost we will discuss these with you and agree a way forward at the earliest opportunity.

 

Remortgages:

Freehold properties

OUR FEE (PLUS VAT)

Leasehold properties

£500

£250,001 to £450,000

£600

 

Disbursements

These are any costs related to your matter which are payable to third parties, such as search fees.  We will handle the payment of disbursements on your behalf. The disbursements we anticipate are set out below. However, this list is not exhaustive and other disbursements may become due throughout the course of your remortgage.  We will update you should this be the case.

 

 

Property Search fees

£400 approx – if applicable

Telegraphic transfer fee x 1

£36

Land Registry Search

£3

Bankruptcy search fee

£2 per person

Electronic ID verification fee

£4.80 each person

Official copy entries

£9 (freehold)/£12 (leasehold)

 

H M LAND REGISTRY FEES (payable on all matters where registration at H M Land Registry is required

Scale 1 Fees

N.B. - When registering transfers of whole, this scale only applies when there is a consideration being paid

Property Value/Consideration

Postal Applications

Portal Applications (transfers (for value) or surrenders of whole)

£0.00 - £80,000.00

£40.00

£20.00

£80,001.00 - £100,000.00

£80.00

£40.00

£100,001.00 - £200,000.00

£190.00

£95.00

£200,001.00 - £500,000.00

£270.00

£135.00

£500,001.00 - £1,000,000.00

£540.00

£270.00

£1,000,001.00 upwards

£910.00

£455.00

 

 

Scale 2 Fees

N.B. - When registering transfers of whole, this scale only applies when there is no consideration being paid (fees are based on estimated property value)

Property Value/Consideration

Postal Applications

Portal Applications (transfers and charges of whole, transfers of charges and other applications of whole)

Portal Applications (transfers of part and all other Scale 2 applications not affecting the whole of a registered title)

£0.00 - £100,000.00

£40.00

£20.00

£40.00

£100,001.00 - £200,000.00

£60.00

£30.00

£60.00

£200,001.00 - £500,000.00

£80.00

£40.00

£80.00

£500,001.00 - £1,000,000.00

£120.00

£60.00

£120.00

£1,000,001.00 upwards

£250.00

£125.00

£250.00

 

 

 

 

 

Exclusions

 

We do not provide mortgage or tax advice, which you should obtain from an independent mortgage broker, financial adviser, accountant or tax specialist if required.

 

Timescales

A typical remortgage will take between 5 and 8 weeks.  However, it can take longer if there are any complications such as an application being rejected.  The process may also take longer if you change lenders from your current mortgage company.

 

Key Milestones

 

We will:

  • Take your instructions and provide initial advice based on the information you give.  We will provide you with a client care letter and associated documentation.
  • Request a redemption statement.
  • Obtain Official Copies of the Title and check the Title.
  • If your property is Leasehold we will need the Lease to be checked and enquiries of the Landlord or Management company will be raised if relevant.
  • Carry out Searches.
  • Check your mortgage offer.
  • Prepare for completion.
  • Request a final redemption statement.
  • Request your mortgage advance.
  • Complete your remortgage.
  • Register the transaction at the Land Registry.

 

 

Our Team

We have an experienced team who understand the stress involved in buying, selling or re-mortgaging your property.

Robert Taylor is a Solicitor, Partner of EMD and head of conveyancing.  He has over 40 years of experience in conveyancing, both residential and commercial and is competent in all areas of conveyancing. Contact Robert on 01424 420261

William Brown is a Chartered Legal Executive with over 40 years’ experience in all areas of conveyancing.  Contact William on 01580 89060

Barnaby Nickolls is a Solicitor with 3 years’ experience in conveyancing.  He is competent in all areas of conveyancing.  Contact Barnaby on 01580 890600/01424 424261

Alexander Lawrence is a trainee Licensed Conveyancer who assists the senior members of the team.  He deals mainly with residential conveyancing but is also competent in dealing with re-mortgages and Lease extensions.  Alex can be contacted on 01580 890600