email: enquiries@parchmentlawgroup.co.uk
Tel: 01753 890023


Residential Remortgages

Our fees cover all work required to complete a remortgage of your property, including dealing with registration at the Land Registry.

Fees Our fees range from £375.00 plus VAT to £950.00 plus VAT.
Electronic Money Transfer £30.00 plus VAT per payment.
Up to date title information from the Land Registry £3.00 per document.
Property Searches (If required by your lender) £350.00 approximately.

Search Indemnity Insurance if the lender does not require Property Searches

Varies on the amount of the loan but in the region of £16.00 to £185.00.

Bankruptcy Search

£2.00 per person.

Electronic Identity Check

£5.00 plus VAT per person.

Land Registry Search

£3.00 per search.

Land Registry Fees

£20.00 to £125.00. The amount payable depends on the amount of your loan. The actual amount payable can be checked by referring to the Land Registry’s website.

Companies House filing fee for corporate borrowers

£23.00 per charge.

Leasehold Notice Fees and Leasehold Compliance Fees

To be confirmed as these vary according to the freeholder / managing agent. These will be confirmed on each transaction.

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. Our fees and the disbursements vary from property to property. Please email enquiries@parchmentlawgroup.co.uk or call 01753 890023 so that you can contact one of our experienced solicitors. They will be able to obtain the relevant information from you to provide you with an accurate and tailored estimate of the costs at the start.

If the property being remortgaged is a leasehold property, there are certain disbursements which will be set out in the individual lease of the Property. These fees vary from property to property and can include a Notice of Charge. This will typically cost in the region of £100.00 to £250.00, but on occasion can be significantly more. We will update you on the specific fees upon receipt and review of the lease. These additional expenses are paid either to your landlord or the property management company.

 

How long will my remortgage take?

The remortgage of a freehold residential property on average takes about 4 weeks from the date of your mortgage offer. A leasehold property can take longer, being between 4 to 8 weeks.

 

Stages of the remortgage process

The precise stages vary according to the circumstances of each transaction and typically include: 

  • taking your instructions and giving you initial advice (please note that we are unable to give any financial advice);

  • obtaining a redemption figure for your mortgage (if any) and contacting the lender’s solicitors if needed;

  • obtaining official copies of your title deeds and other documents;

  • carrying out searches if required by the lender and obtaining planning documentation;

  • if the property is leasehold, making any necessary enquiries of the managing agents and /or the freeholder;

  • going through the conditions of your mortgage offer with you;

  • sending you the mortgage documentation to you for signature;

  • setting a completion date for the drawdown of funds as well as obtaining an updated redemption figure if appropriate;

  • arranging for all monies needed to be received from your lender and you;

  • completing the mortgage or re-mortgage and repaying any existing mortgage;

  • dealing with the application for registration at Land Registry and if leasehold serve notice of mortgage on the landlord/managing agents;

  • If required, registering the lender’s charge at Companies House; and

  • Confirming to you once the registration of the new mortgage at the Land Registry is completed


 

Our fee assumes that:

  1. 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.

  2. the transaction is concluded in a timely manner and no unforeseen complication arise.

  3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation.