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
- Obtaining information from your current mortgage lender;
- Checking the title to the property;
- Dealing with the requirements of your new mortgage lender and ensuring that its interests are property protected;
- Making the pre-completion legal arrangements and checks;
- Obtaining as appropriate the mortgage money from your new mortgage lender and any balance we shall need from you;
On completion
- Receiving the mortgage money from your lender;
- Paying off your existing mortgage (if applicable);
- Sending any surplus to you;
Post Completion
- Registering the new mortgage at the Land Registry and sending you a copy of the Land Registry entries; and
- 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).
The prices set out below are for illustrative purposes only and the final quote & fees may vary. To receive an accurate quote, please contact our team.
Our Prices
Remortgage Amount | Fee | VAT | Total |
£0 - £499,999.99 | £825.00 | £165.00 | £990.00 |
£500,000.00 - £999,999.99 | £910.00 | £182.00 | £1,092.00 |
£1,000,000.00 + | £1,000.00 | £200.00 | £1,200.00 |
Additional Fees | |||
Leasehold Fee | £300.00 | £60.00 | £360.00 |
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
ID Check fee £14.95 plus VAT