North Yorkshire based law firm Crombie Wilkinson Solicitors continues its business growth strategy with the appointment of two new Directors; Orlando Bridgeman and Greg Cross are appointed as Directors from 1 May 2019. Orlando and Greg’s promotion is...
Mortgage or Remortgage of a residential property
Our fees estimates cover all of the work required to complete a standard mortgage or remortgage of your property including dealing with registration at the Land Registry.
Our legal fees
- Legal fee range is typically : £300 - £500 + VAT
- Electronic money transfer fee per transfer is : £30 + £6 VAT
- VAT payable : £60 - £100
- Subtotal : £396 - £636 inclusive of VAT
Referral fee (if any)
If our firm pays a referral fee, the maximum we pay is £120. If we pay a referral fee, this will be detailed in your Client Care Letter so that you know how much and who we have paid the referral fee to on your matter.
Estimated total : £396 - £636 inclusive of VAT
Payments to others in all cases
Payments to others (or "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.
- HM Land Registry fee re official copies: £6-£18 inclusive of VAT
- HM Land Registry Registration fee - this depends on the value of the mortgage. The range is : £20-£910 inclusive of VAT
- Search fees: £170-£250 inclusive of VAT (or if the mortgage lender accepts it, we can put in place no-search indemnity insurance. A quote is obtained for each individual matter but the price ranges between £10-£55)
- Land Registry search fee - £3 per title number
- Land Charge search fee - £2 per person named on the mortgage
- Stamp Duty Land Tax. Whilst not something which automatically comes to mind when remortgaging a property, this may need to be considered if there is a change of ownership of the property at the same time as the new mortgage completes. You can use the governments online calculator (click here: https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro) however this is more suited to straightforward purchase transactions, and we would ask you to please contact the office if you are transferring ownership of the property, so that we can tailor the SDLT advice to your personal circumstances
In relation to leasehold –
- Notice of Charge fee for leasehold properties. Often the fee is between £50-£250+VAT*
- Certificate of Compliance fee – to be confirmed upon receipt of the lease, as can range between £100-£500+VAT*
*These fees vary from property to property as they are set by individual landlords and management companies. This means that on occasion they can be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
Estimated grand total : £434 - £1,636 inclusive of VAT*
*We have listed the minimum payable for fees and disbursements to the maximum but only for freehold properties as we are unable to gauge what the leasehold disbursements will be until we act on an individual case.
Mr and Mrs Peacock are remortgaging their registered freehold house. There will be no change of ownership. The amount they are borrowing from the mortgage lender is £175,000.
Bank transfer fee
Land Registry search
Land Charge search
(£2 per person)
No-search indemnity insurance
Land Registration fee
Total inclusive of VAT
How long will my mortgage or remortgage take?
How long it will take will depend on a number of factors. The average process takes between 3 and 5 weeks from our receipt of your new mortgage offer with many of the below stages of the process taking 1-3 days typically.
Stages of the process
These are the key stages of the process:
- Take your instructions and give you initial advice, to include advice on SDLT liability tailored to your personal circumstances.
- For a remortgage – obtain redemption figure from existing mortgage lender.
- Check finances are in place to fund mortgage or remortgage and contact lender’s solicitors if needed.
- Receive and advise on the mortgage offer.
- Carry out searches/implement no-search indemnity insurance.
- Conduct due diligence checks on your legal title.
- Go through conditions of the mortgage offer with you.
- Send mortgage deed to you for signature
- Agree completion date.
- Arrange for all monies needed to be received from lender and you.
- Carry out final Land Registry and Land Charge searches.
- Complete the new mortgage.
- Pay off your old mortgage.
- Deal with application for registration at Land Registry.
- For a leasehold – deal with Lease requirements.
You can get an instant conveyancing fee etimate online using our Online Conveyancing Tool here.
You can see the legal advisers who work in our Property Team here.