Thank you for looking at our property services. Making the decision to remortgage your home can be just as life changing as buying a property.
A remortgage is when you either renegotiate with your current lender or change the mortgage on your property to a new lender. It is important to speak to a mortgage adviser who can go through the options with you and make sure you get the right arrangement to meet your exact requirements.
There are many reasons you may wish to remortgage, such as:
- To reduce the rate of interest you pay;
- To fix your monthly payments and protect against possible future rate increases;
- To raise money to carry out home improvements;
- To raise a cash lump sum by releasing equity from your home;
- Change in personal circumstances such as a marriage or divorce;
- To consolidate your debts
Our experienced team understand how the banks, building societies and mortgage lenders work. They have the legal and technical expertise to resolve issues as they arise, in a professional and efficient manner, while making sure everything you need to know is explained as clearly as possible. They will take care of the important legal details and remove any confusion and uncertainty from the process. We understand that communication is key, so a member of the team will be available to speak with you when you need clarity or reassurance at any stage in the process, and ensure you are kept up-to-date. We want you to feel assured that your matter is being handled effectively and is given sufficient priority.
We are proud to hold Lexcel and CQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
Our aim is to provide a quality service at a fair price. We typically work on a fixed fee basis, ensuring that you know what the fees will be for your transaction from the outset. If, during the transaction, there is a new development, we will discuss the change in fees with you and agree a way forward.
Our fees cover all the work required to complete the remortgage of your property.
|Property Value||Our Fees||VAT||Total||Freehold|
|Up to £350,000||£545.00||£109.00||£654.00|
|£350,001 - £500,000||£695.00||£139.00||£834.00|
|Property Value||Our Fees||VAT||Total||Leasehold|
|Up to £350,000||£655.00||£131.00||£786.00|
|£350,001 - £500,000||£805.00||£161.00||£966.00|
Please contact us for a quotation if your matter does not fit within these price brackets.
Our fee assumes that your matter is a standard transaction with no unforeseen complexities that require the preparation of additional documents ancillary to the main transaction, and that all parties are co-operative enabling the matter to be concluded in a timely manner.
The fees shown only relate to properties situated in the UK.
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of disbursements on your behalf to ensure a smoother process.
The usual disbursements (subject to VAT where stated) associated with your purchase will include: -
|Telegraphic Transfer fee* (sending purchase monies)||£48.00 (inc. VAT)|
|Land Registry Search||£3.00|
|Land Charges Search (bankruptcy only)||£2.00 per name searched|
|Anti-Money Laundering Search||£6.00 (inc. VAT) per name|
|Land Registry Fee:|
*When we pay monies from our client account on your behalf, by electronic transfer (known as a telegraphic transfer (TT)), we charge £40 plus VAT (£48) per payment. There may be two sets of TT Fees payable; one to redeem your existing mortgage and a second to remit sale proceeds to you.
We do not undertake mortgage or tax advice and we would recommend you seek advice from an independent mortgage broker or financial adviser.
We do not carry out valuations on your home, this will be conducted by your new lender.
A typical remortgage takes between 6 and 8 weeks, however it can be longer if there are any complications, such as an application being rejected. The process may also take longer if you switch lenders compared with getting a new deal with your current mortgage company.
Stages of the process
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows: -
- Taking your instructions and giving initial advice;
- Requesting the Title Deeds and a Redemption Statement;
- Obtaining Official Copies of the Title;
- Checking the Title;
- Leasehold properties will require the lease to be checked and enquiries made if relevant;
- Undertaking searches;
- Advising on mortgage offer conditions;
- Preparing for completion;
- Requesting final redemption statement;
- Requesting the mortgage advance;
- Completing the remortgage and accounting to you for the proceeds;
- Completing and submitting an application for registration at the Land Registry
Our team has a great depth of collective experience in delivering high quality work in all property-related transactions. We have three members of the Conveyancing team (whose profiles you can view on our website), and all of whom will be supervised by Tracey Smith, the Managing Partner.
|David Johncock||Consultant Solicitor and Head of Conveyancing|
|Amanda Rose||Senior Conveyancer|
|Sarah Curtis||Consultant Solicitor|