Remortgages

 In Fees, Buying and selling property

Our fees cover all of the work required to complete any remortgages. Legal fees are the charges that Rawlins Davy make for our time spent on the matter and are calculated according to the value of the property. Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Our scale of fees is set out below to help you to understand what the total cost to you may be.

Conveyancer’s fees and disbursements

Legal fees are calculated according to the value of the property.

Up to £150,000 £500 plus VAT Total £600
£150,001 to £300,000 £650 plus VAT Total £780
£300,001 to £500,000 £650 plus VAT Total £780
£500,001 to £750,000 £750 plus VAT Total £900
£750,001 to £1 million £900 plus VAT Total £1080
In excess of £1 million 0.1% of loan value plus VAT at 20%
Electronic money transfer fee £30 plus VAT Total £36

Disbursements

HM Land Registry fee This is usually between £20 and £455 according to the value of the property
Office Copy Entries £15
Pre-completion search fees unlikely to exceed £10.00
Exceptional circumstances

Our 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
  • 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.

Should one or more of the above arise we reserve the right to vary our fee from the scales above, but we will always seek your approval of any variation before additional fees are incurred.

Stages of the remortgage

  • Take your instructions and give you initial advice
  • Obtain and review the title documentation of the property
  • Obtain preliminary redemption figures for any charges/mortgages that are registered against the property
  • Carry out any searches that may be required by your lender
  • Discuss conditions of mortgage offer with you
  • Agree completion date with you
  • Arrange for all monies needed to be received from lender and you
  • Obtain final redemption figures
  • Complete your re-mortgage
  • Deal with the application for registration at the Land Registry

How long will it take?

How long your remortgage will take may depend on a number of factors, including any requirements of your lender.  For example if they required searches to be carried out there may be a slight delay.  A typical remortgage may take 4 weeks for a freehold property and 6 weeks for a leasehold property.

To meet our residential property team please click below

Patricia Smith (Department Supervisor)

Neil White

Sue Gardiner

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