Remortgaging a Property

Our Fees

Our fees will generally cover all of the work required to complete the remortgage of your property.

For an estimate of the likely fees and charges for a remortgage transaction, please use our helpful Conveyancing Calculator. Please note, the estimates that our calculator produces are merely an indication of the likely costs based on a limited amount of information we have about your transaction.

Additional Charges

In addition to our legal fees, there are further payments which will need to be made as part of your transaction. These are called disbursements and are costs relating to your matter that are payable to third parties such as Land Registry fees. We handle payment of the disbursements on your behalf as part of our service.

Client Onboarding

Our client onboarding is carried out through our partner firm, InfoTrack. The cost of onboarding per person is £14.40 inclusive of VAT.

Stamp Duty Land Tax (or Land Transaction Tax in Wales)

Stamp Duty Land Tax will not normally be payable on a straightforward remortgage transaction. However, where the remortgage takes place in conjunction with a transfer of equity a SDLT charge can sometimes arise. If you are remortgaging in conjunction with a transfer of equity, additional charges will apply as well as the possible SDLT charge. Please contact us with full details so that we can provide you with a personal estimate.

Local Authority/Drainage/Environmental Searches

On the majority of remortgage transactions the lender will require us to undertake the usual conveyancing searches in order to provide them with the required Certificate of Title in respect of the property. Our standard search pack includes a personal Local Authority Search, personal Drainage and Water search and an Environmental search. The cost of this search pack is £189.58 inclusive of VAT.

Should your lender require an official searches by the Local Authority or direct Drainage and Water searches, we will be able to obtain these and can confirm costs upon request.

Some lenders will accept search insurance in place of obtaining searches. The cost for search insurance varies on a case by case basis. Please contact us for details when you have full details of your transaction.

Pre-Completion Search Fees

Just before completion, we will need to undertake a Land Registry search against the property title and also a bankruptcy search for each borrower. 

The Land Registry search fee is currently £10.20 inclusive of VAT and the bankruptcy search fee per individual is £9.00 inclusive of VAT.

Land Registration Fee

This fee will depend on the valuation of the property. The table below sets out the current Land Registration fees:

*The Land Registry fees quoted above are reduced fees which are payable in the majority of cases where we are able to deal with the registration on the Land Registry portal.  Generally, this applies to the registration of charges involving the whole of an existing registered title.  Transactions which will be subject to the full registration fee will be those where the property title is not already registered at HM Land Registry.

Additional Disbursements for Remortgaging Leasehold Properties*

In addition to the disbursements set out above in respect of the remortgage of freehold properties, leasehold transaction will usually also involve payment of the following further disbursements:

• Notice of Charge fee: This charge is payable to the freeholder/management company following completion of the remortgage. The cost can vary from £25 plus VAT in older leases but can rise to in excess of £100 plus VAT. We will advise you of the fee payable when we report to you.
• Certificate of Compliance fee: This fee is also charged by the freeholder/management company. The fee is often in the region of £75 - £100 plus VAT. We will confirm the fee to you, if applicable, when we report on the lease and receive the management company information.

PLEASE NOTE:

All payments to third parties included in any estimate are subject to change.

Estimates provided are an indication only of the likely costs. They are subject to confirmation via personal estimate provided by the branch you intend to use and also to our terms of business. Whilst the legal fees quoted should apply in most cases, these may be subject to change.

Our fees may also increase if your transaction involves any unforeseen issues or complications which result in extra work having to be carried out. Should this happen, an estimate of any further charges will be discussed with you at the earliest opportunity and where practicable, prior to the work being carried out.