Mortgage & remortgage of a residential property

• legal fees  – Our standard fees for a typical house mortgage or re-mortgage  range from around £995 plus VAT for a simple transaction to around £1,500.00 plus VAT (@ 20%) for a substantial historic building on unregistered land.   There is an extra charge for dealing with a leasehold title ranging from £250.00 plus VAT to £350.00 plus VAT (@ 20%) in addition to the standard fee and administration fees for submitting the Land Registry application via the portal. These figures may however vary in cases with special complications.  This is why we will always give you an individual cost estimate at the start of the transaction, taking into account the actual features of your mortgage or re-mortgage.
• Approximate Search fees (these vary from one local authority to another) £400
• Electronic money transfer fee £42 (inclusive of VAT @ 20%)
• Pre-completion searches approximately £25
• Land Registry fee  for title documentation £20 – £50
• Land Registry fee – see below

You can calculate the amount you will need to pay by using Land Registry’s website.  
For example, for a mortgage of a registered freehold residential property at £250,000 with no complications  :-

Our estimates do not include any advice about the following aspects:-

• Taxation issues
• Matters relating to survey or the state and condition of the property
• Division of mortgage proceeds between joint owners
• The validity or enforceability of any guarantees relating to work done at the property
• Affordability, suitability or otherwise of any mortgage or loan you are obtaining
• Application of proceeds of mortgage for the purchase of another property which you may be buying with another person

We reserve the ability to charge extra if the transaction becomes out of the ordinary and demands additional time to resolve any problems, these could include :

• Defective title
• Lack of planning documentation from you
• Dealing with unregistered title
• Dealing with more than one registered title
• Tenanted buy to let property
• Dealing with third party lawyers
• Arranging conveyancing indemnity policy
• Drafting statutory declaration
• Drafting declaration of trust
• Advising adult occupier required to sign consent form for lender
• Shared ownership lease
• Leasehold Properties only – Dealing with deed of variation of Lease

We will always advise you immediately about any complication, and discuss the potential impact on price before any additional charges are incurred.

How long it will take from your application for a mortgage offer being accepted until it can be completed will depend on a number of factors. The average process takes between 4-6 weeks.

It can be quicker or slower, depending on the title, the lender’s requirements or conditions and how quickly the mortgage offer is received. For example, if you are a mortgaging a registered freehold title with a mainstream lender who only requires search indemnity insurance it could take 3 to 4 weeks.  However, if you are mortgaging a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 4  months. In such, a situation additional charges would apply.
Contact us today without obligation. Call 01803 213251 or complete the enquiry form.