TRANSFER OF EQUITY CONVEYANCING FEES
Your conveyancing will be carried out by our Miss Burgundy-Davis, solicitor.
Her supervisor is Miss Margaret Banks, solicitor and Principal of the firm.
| TRANSFER OF EQUITY AND REMORTGAGE | |||
|---|---|---|---|
| Fees | VAT | Total | |
| Up to £100,000 | £450.00 | £90.00 | £540.00 |
| £100,001 - £250,000 | £550.00 | £110.00 | £660.00 |
| £250,001 - £500,000 | £700.00 | £140.00 | £840.00 |
| £500,001 - £1,000,000 | (average price £1000 plus VAT @ 20% £200 total £1200) | ||
| DISBURSEMENTS | |||
|---|---|---|---|
| Official office copies | £6.00 Non VATable | ||
| Anti-Money Laundering checks (pp) | £6.00 Plus VAT £1.20 = £7.20 | ||
| Telegraphic Transfer Fee | £25.00 plus VAT @ 20% = £5.00 Total: £30.00 | ||
| Bankruptcy Search | £2.00 per person | ||
| HM Land Registry Priority Search | £3.00 | ||
| HM Land Registry Registration Fee (depends on value) | £80.00 - £100.00 maximum fee | ||
| Scale 2 Land Registry portal fees: Non VATable | |||
| £0 - £100,000 | £20.00 | ||
| £100,001 - £200,000 | £30.00 | ||
| £200,001 - £500,000 | £40.00 | ||
| £500,001 - £1,000,000 | £60.00 | ||
| £1,000,000 + | £125.00 | ||
Transfer of Equity of Mortgage
Our fees cover all of the work required to complete a re-mortgage of your home including redeeming your existing mortgage and registering your new mortgage.
How long will my re-mortgage take?
How long it will take from you obtaining a new mortgage offer until the re-mortgage completes will depend on a number of factors.
The average process takes between four and six weeks.
It can be quicker or slower depending on how quickly we obtain copies of your new mortgage offer and redemption figures for your existing mortgage and whether or not there are any title issues.
What is the process?
The precise stages involved in the re-mortgage of a residential property vary depending on the circumstances however below we have listed the key stages. We do the following:
· Take your instructions and give you initial advice
· Send out our client care pack to you with initial forms for you to complete and return
· Obtain title information documents from the Land Registry
· Order searches if this is required by your new lender
· Review and report to you the conditions of your new mortgage
· Obtain a redemption figure from your current lender
· Send paperwork out to you for signature
· Agree a completion date
· Prepare an invoice and completion statement
· Arrange for all monies to be received from the lender and you
· Discharge the old mortgage
· Deal with registration of the new mortgage
Our estimated fees assume that:
· 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
· There is one mortgage to redeem
· The transaction is concluded in a timely manner and no unseen complications arise
· All parties to the transaction are cooperative and there is no unreasonable delay from parties providing documentation
· No indemnity policies are required
Your conveyancing will be carried out by our Miss Burgundy-Davis a solicitor with 15 years PQE ( Post qualifying experience ).
Her supervisor is Miss Margaret Banks, solicitor and Principal of the firm with 40 years PQE.
Please click below to see our complaints process:
SRA no. 00428574.
07723 70 71 72 (24 hour emergency number)