Residential Conveyancing Fee Structure For Re-Mortgaging A Property

Our fees cover all of the work required to complete a re-mortgage of your home, including redeeming your existing mortgage and registering your new mortgage.

How long will my re-mortgage take?

How long it will take from you obtaining a new mortgage offer until the re-mortgage completes will depend on a number of factors. The average process takes between 4 – 6 weeks.

It can be quicker or slower, depending on how quickly we obtain copies of your new mortgage offer and redemption figures for your existing mortgage and whether or not there are any title issues.

What is the process?

The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. However, below we have listed the key stages. We do the following:

  • take your instructions and give you initial advice
  • send out our client care pack to you with initial forms for you to complete and return
  • obtain title information documents from the Land Registry
  • order Searches if this is required by your new lender
  • review and report to you the conditions of your new mortgage
  • obtain a redemption figure from your current lender
  • send paperwork out to you for signature
  • agree a completion date
  • prepare an invoice and completion statement
  • arrange for all monies needed to be received from the lender and you
  • discharge the old mortgage
  • deal with registration of the new mortgage

Estimated Costs

We have prepared a table (see below) of the estimated costs of a re-mortgage of both leasehold and freehold properties.

Our estimated fees assume 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
  • there is only one mortgage to redeem
  • the transaction is concluded in a timely manner and no unforeseen complications 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

Disbursements

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursement on your behalf to ensure a smoother process. The disbursements quoted are on the basis that only one will be required. If more than one document needs to be obtained from the Land Registry these will incur additional costs.

Anticipated Disbursements

  • Notice of Charge fee (if the property is mortgaged) – this is charged by the landlord and/or management company under the terms of a lease. Often the fee is between £100.00-£250.00 plus VAT
  • Certificate of Compliance fee – to be confirmed upon receipt of the lease and can range between £100.00-£250.00 plus VAT

These fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.

Additional disbursements will apply if indemnity insurance policies are required. A quote will be obtained once we identify the risk that needs to be indemnified.

 

Re-mortgage value £0 – £350,000.00
Fees £500.00
VAT £100.00
Bank transfer by CHAPS £36.00
Title register and plan (each set) £6.00
Bankruptcy Search £2.00 per person
ID search £2.53 per person
Land Registry priority search £3.00
Land Registry registration fee (depends on value) £80.00 maximum fee
Total £729.53

 

Re-mortgage value £350,001.00 – £900,000.00
Fees £800.00
VAT £160.00
Bank transfer by CHAPS £36.00
Title register and plan (each set) £6.00
Bankruptcy search £2.00 per person
ID search £2.53 per person
Land Registry priority search £3.00
Land Registry registration fee (depends on value) £120.00 maximum fee
Total £1,129.53

 

For a re-mortgage value of over £900,000.00 we charge at an hourly rate of £150.00-£180.00 (depending on the fee earner handling your case).

Meet our Conveyancing Team

Testimonials

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Pleasure to do business with McHale & Co. Everything is thoroughly explained, whatever questions we asked. Easy to make contact, we as a family have dealt with your company before and cannot fault any part of our dealing with yourselves.

Mrs L

Helen was excellent. Very clear in her explanations of options and implications of decisions made in our wills.

Mr & Mrs T

A big thank you to Grace Kennedy who went the extra mile and provided me with lots of information regarding making, signing and checking the process for me and after signing a list of use points and information. Excellent customer/client care.

Mr S

I feel that the people employed within this firm really listen and respond accordingly

Mrs S

Many thanks for your assistance with everything (Helen Green), you’ve made it all seem a lot more manageable at a difficult time.

Ms W

Helen, can I just thank you for the professional and thorough way in which you have dealt with this matter and your advice has been very welcome at times. Worth every penny for peace of mind.

Mr L

Extremely helpful and considerate. Very attentive . Nothing was too much trouble from the first phone call to receiving a hard copy of the will. Couldn’t have asked for more. I would not hesitate in recommending you to friends and family. A fantastic service all round. Thank you Michaela.

Mr M

I would like to thank you (Paul Fitton) for your most professional guidance and advice, I appreciate the effort and time you devoted to my issues on this subject.

Mr S

Mr Nattrass is always understanding and helpful and takes time to listen and explain. It is always a pleasure to deal with him. Also, your reception staff are lovely and welcoming.

Mrs J

The service we received from Helen Green was fantastic, nothing was too much trouble. We would recommend Helen without question.

Mr J

The service provided was excellent. Many thank to John Nattrass for all his input and execution of our wills.

Mrs H

I would like to commend Michaela for her warmth, compassion and professionalism. It was because of her superb persona that I am using McHale & Co. Thank you very much Michaela!

Miss J

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