Mortgaging &
Re-mortgaging

To deal with a mortgage or re-mortgage of a residential property, our charge is £300.00 plus VAT (£360.00). If the transaction is a re-mortgage and the current mortgage secured against the title is to be redeemed, we will also charge a telegraphic transfer fee of £20.00 plus VAT (£24.00).

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Mortgages and Re-Mortgages – likely disbursements

Searches: £220.00 (estimated)

Land Registry documents: £3.00 per document (estimated £9.00 in total)

Land Registry Search: £3.00 (per title number usually only 1 but may be more titles in some transactions)

Bankruptcy Searches: £2.00 (per name)

Land Registry Fee: This fee is payable to the Land Registry to register your purchase with them. The fee payable is dependent on purchase price, and whether the property is currently registered. You can check with the Land Registry what the likely fee will be by visiting http://landregistry.data.gov.uk/fees-calculator.html

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If the property is leasehold, it is also likely that there will be a requirement in the lease to give notice of the mortgage to the landlord/management company. It is usually set out in the lease or by the landlord/management company who owns/runs the building. The fee can range between £50.00 and £300.00 but can be higher or lower.

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What do my fees cover?

Our fees cover all the work required to complete the mortgage or re-mortgage of your home. For instance, we would usually carry out the following work:-

(a)  investigating the title to the property, to include carrying out searches with respect to title and local government information for the property;

(b)  advising you in respect of your mortgage offer (please note that many mortgage offers expire after three months).  If the date of completion is after the date of expiry of the offer then the mortgage monies will not be issued and we cannot be held responsible for non-release of funds;

(c)   preparing a report on title;

(d)  reporting to the lender on any relevant issues;

(e)  requesting a redemption statement from your current lender;

(f)    requesting mortgage funds from your new lender;

(g)  transferring funds by telegraphic transfer to your current lender to redeem the current mortgage;

(h)  transferring any balance funds to you by telegraphic transfer; and

(i)    registering the mortgage at the Land Registry 

How long will my mortgage/re-mortgage take?

How long your mortgage or re-mortgage will take will depend on various factors. For instances, if your new lender requires any searches, or if they have any special conditions that must be complied with, whether there are any restrictions on the title. Typically, we would expect an average mortgage transaction to take between 6 and 10 weeks.