Remortgages

Whether you’re remortgaging to get a better deal, borrow more money, or because your circumstances have changed i.e. due to a divorce, our experienced team can guide you through the process. We will ensure the process is as simple and as stress free as possible. We will try endeavour to cut out the legal jargon.

Remortgage using us and you’ll benefit from:

  • Fixed fees with no hidden costs
  • Experienced re-mortgage solicitors
  • Regular updates
  • Clear advice that’s practical and easy to understand
  • A prompt and reliable service

We can handle every aspect of your re-mortgage instruction, from the initial request of title deeds to your existing lender, right through to completion where we will register your new mortgage at the Land Registry, ensuring all documents are sent to all applicable parties.

Estimated time frame

The average time is approx. 8 weeks. The time period to complete a transaction depends on a range of factors which can include:

  • Search’s: if there is a delay in optioning any search or if a search result shows something unexpected
  • If there is a delay in your mortgage offer being issued, the offer is incorrect or if a particular issue needs to be reported to the mortgage company
  • If there is a Management Company involved

We endeavour to keep you posted on the matter and will therefore keep you updated on any revised time period following our initial meeting.

Costs

For a remortgage we offer a fixed fee. Our costs are broken down into legal costs and disbursements. Disbursements are third party costs, such as costs for any searches, land registry fees etc. The disbursements vary from case to case. We handle the payment of the disbursement on your behalf to ensure a smoother process.

Therefore, at the outset of the matter we will advise you of the fixed fee together with a breakdown of all disbursements, we will send you our terms and conditions so that we’re completely transparent at every step. Our quotes will give a breakdown of all charges and will then have a total figure, which is inclusive of VAT.

The average legal fee for a remortgage of a home is from £300 plus Vat at 20%. This figure may be higher if the transactions is complex.

On each transaction there are likely to be the following additional fees:

If a searches are required the average cost will be in the region of £300 inclusive of VAT at 20%.

There will be a charge of  £15.00 plus VAT at 20% identity check.

There would be a lender portal administration fee of £25 plus VAT at 20% and also a lender portal fee of £25 plus VAT at 20% charged by a lender which operates via a portal.

Additional payments may apply if indemnity policies are required.

If there is a landlord or Management Company involved further payments to third parties are likely to be required.

For further information please contact our offices for a free quotation. By contacting our offices, we will be able to provide you with a quote having discussed the potential features of the transaction.

What will our fees cover on a remortgage?

The fees we quote will cover the costs to complete the transaction. We will carry out the necessary searches and advise you and your new mortgage provider if they do not appoint their own solicitor.

Our fees assume that:

  • This is a standard transaction with no unforeseen matters, example (but not limited to) a defect in the legal title which requires remedying prior to completion or the preparation of additional documents, for example a Declaration of Trust
  • The transaction is concluded in a timely manner and that there are no unforeseen complications

Additional fees may apply and we have listed a non-exhaustive list of cost and disbursements which may apply depending on the nature of the transaction. To view these costs, please click here.