Pricing guidelines - Remortgage of residential property

    Our fees cover all of the legal work required to complete a remortgage of your home

    Conveyancers’ fees depend on the complexity of the transaction.  Some of the disbursements depend on the purchase price.

    By way of an example a remortgage involving the discharge of a previous mortgage and the draw down of a new mortgage would incur the following fees and disbursements:

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    Conveyancer's fees 

    Legal fee £900
    Electronic money transfer fee £40
    VAT (charged at 20%) £188
    Subtotal £1,128

     

    Conveyancing Disbursements 

    Disbursements are costs related to your purchase that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

    Search fees (may or may not be required by the lender and can be variable according to the location of the property but this is an average cost. As an alternative we may be able to obtain -  if the lender permits it -  search indemnity insurance at a considerably reduced rate.) £450
    HM Land Registry fee (this depends on the value of the property but assuming a £400,000 property would by £150) £150
    Legal Title fee £20
    Subtotal £620

     

    How long will the remortgage take?

    It can be quicker or slower, depending on any issues with the title or available information but you can expect it to take around 8 weeks 

    Stages of the process

    The precise stages involved in the purchase of a residential property vary according to the circumstances. However, the following is an outline of typical stages:

    • Take your instructions and give you initial advice
    • Receive and advise on mortgage offer
    • Check legal title to the property
    • Carry out searches [if required by the lender]
    • Obtain further planning documentation if required
    • Make any necessary enquiries of you
    • Give you advice on all documents and information received
    • Go through conditions of mortgage offer with you
    • Send mortgage deed to you for signature
    • Agree completion date of new mortgage
    • Notify lender of draw down date
    • Arrange for all monies needed to be received from lender and you
    •  Complete remortgage
    • Account to you any money due to you as a result of the remortgage
    • Deal with application for registration at Land Registry

    Our example 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 a remortgage of whole and not part of the land;
    • The transaction is concluded in a timely manner and no unforeseen complication arise;
    • All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;
    • No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

    Feedback from our clients

    Our clients tell us they are happy: year after year, 94-96% of those providing feedback say they would recommend us and/or use us again. You can find out what our residential property clients say about us by clicking here.

    Related services

    We also undertake:

    • New build properties
    • Shared Ownership
    • Transfers of equity on a divorce
    • Lettings (landlord and tenant)
    • Property disputes
    • Commercial property transactions

    For full details of the services provided by our Residential Property Team, please click here.

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