Remortgage

The SRA have asked all regulated law firms who carry out Residential Conveyancing to publish information on average Residential Remortgage matters.  We believe there is no such thing as an average transaction; we like to treat each client as an individual.  More complex matters may result in additional charges and a longer timescale for completion.  Additionally, due to the impact of COVID-19, many transactions are taking longer than usual.  We will do our upmost to progress your remortgage in a timely manner. Please do not hesitate to contact us if you have any queries about the information below.

What is the price range for this service?

• £675.00

What hourly rates do you charge?

• We do not charge for Residential work on an hourly basis. If your matter requires additional steps to be undertaken, you will be charged a fixed addition fee (please see “What services may be required in addition to the above, and what will they cost?” below).

What disbursements will I need to pay?

• Office Copies (approximately £6.00)
• Pre-completion searches (approximately £7.00)
• Please see attached for Land Registry application fees.
• Search indemnity insurance (dependent on value of mortgage)

Will I be charged VAT?

• We charge VAT on our fees but there is no VAT on most disbursements.

What steps are involved?

1. On receipt of instructions and ID documents from you, carrying out due diligence and complying with money laundering regulations.
2. Obtaining and investigating title.  Raising any queries with you that may be necessary.

Steps 1 & 2 are done within three days of receipt of pack.

1. Obtaining redemption statements for any existing mortgages.
2. Receiving and checking mortgage offer and reporting to you and the lender.  Sending you the mortgage deed to sign, within three days of receipt of mortgage offer.
3. On receipt of all documentation from you, agreeing a completion date.
4. Completion – All completions will be dealt with expeditiously on the agreed completion date.
5. Attend to registration at HM Land Registry within a week of completion.
6. Sending completed registration documents to you and, where applicable, the lender, within two days of receipt from HMLR.

What services are included in the price?

• Obtaining and investigating title.
• Redeem current mortgage.
• Complete a new mortgage.

What services may be required in addition to the above, and what will they cost?

• Transfer of Equity – £675.00 plus VAT
• Declaration of Trust – £250.00 plus VAT

Who will handle my matter?

• Your Client Care Letter will let you know who is dealing with your matter. More information on your Fee Earner can be found by clicking on their names below:
  • Isabel Rial, Associate
  • Michael Wright, Associate
  • Paul Makinson, Partner
  • Sue Elias, Head of Residential Conveyancing

• • With more than 70 years of collective experience, the Residential Team are ably assisted by:
    • Cathy Piercy
    • Donna O’Carroll
    • Madeline Casley
    • Soraya Maroof
    • Ceri Davies

Who supervises the work?

• Most of the day to day supervision of the work will be carried out by Sue Elias as Head of Residential Conveyancing.
• The Partner with overall responsibility for the Property Team is Anna Duffy.