Thank you for your interest in our conveyancing services for the mortgage of your property.
Our fees cover all of the normal work required to complete the mortgage of your home including dealing with registration at the Land Registry.
Freehold Mortgage Fees
|
|
Cost
£
|
VAT
£
|
Sub-Total
£
|
|
Our fees based on the mortgage amount:-
|
|
|
|
|
£0 - £500,000
|
700.00
|
140.00
|
840.00
|
|
£500,001 - £1m*
|
950.00
|
190.00
|
1,140.00
|
|
Our fees for the redemption of your current mortgage (if applicable)
|
75.00
|
15.00
|
90.00
|
|
Search fees (estimated, the fees depend on the location of the property) we may be able to use search insurance instead which is quicker and at a lower cost
|
500.00
|
0.00
|
500.00
|
|
Money transfer administration fee to pay you the mortgage advance
|
25.00
|
5.00
|
30.00
|
|
Money transfer administration fee to redeem your current mortgage
|
25.00
|
5.00
|
30.00
|
|
HM Land Registry priority search
|
7.60
|
1.20
|
8.80
|
|
Land Charges bankruptcy search (per person)
|
6.50
|
1.30
|
7.80
|
|
HM Land Registry office copy documents (estimated three documents)
|
22.00
|
4.40
|
26.40
|
|
Chancel Liability Insurance in lieu of a chancel liability search
|
19.00
|
0
|
19.00
|
|
Estimated total (excluding land registry fees – see below)
|
1,280.10 to 1,630.10
|
151.90 to 221.90
|
1,432 to 1,852
|
Leasehold Mortgage Fees
|
|
Cost
£
|
VAT
£
|
Sub-Total
£
|
|
Our fees based on the mortgage amount:-
|
|
|
|
|
£0 - £500,000
|
950.00
|
190.00
|
1,140.00
|
|
£500,001 - £1m*
|
1,200.00
|
240.00
|
1,440.00
|
|
Our fees for the redemption of your current mortgage (if applicable)
|
75.00
|
15.00
|
90.00
|
|
Search fees (estimated, the fees depend on the location of the property) we may be able to use search insurance instead which is quicker and at a lower cost
|
500.00
|
0.00
|
500.00
|
|
Money transfer administration fee to pay you the mortgage advance
|
25.00
|
5.00
|
30.00
|
|
Money transfer administration fee to redeem your current mortgage
|
25.00
|
5.00
|
30.00
|
|
HM Land Registry priority search
|
7.60
|
1.20
|
8.80
|
|
Land Charges bankruptcy search (per person)
|
6.50
|
1.30
|
7.80
|
|
HM Land Registry office copy documents (estimated five documents)
|
36.67
|
7.33
|
44.00
|
|
Chancel Liability Insurance in lieu of a chancel liability search
|
19.00
|
0
|
19.00
|
|
Estimated total (excluding land registry fees – see below)
|
1,544.77 to 1,894.77
|
204.83 to 274.83
|
1,749.60 to 2,169.60
|
* We do not deal with residential mortgages where the mortgage value is greater than £1m.
Land Registry Fees
This depends on the mortgage amount and whether the property is already registered with the Land Registry. You can calculate the amount you will need to pay by using the
Registry Fee Calculator or by reviewing the
Land Registry Fee page.
Leasehold (or freehold service charges/land charges)
If the property is leasehold (or the property is subject to freehold service/land charges) you may have to pay additional fees to the landlord or land charges owner, estimates of these charges are set out below but they do vary. We usually obtain details of these from the freehold owner or land charge owner as early as possible so we can provide you with more specific figures:
• Notice of Mortgage Fee. Although fees vary it is often £75 + VAT @ 20% to £250 + VAT @ 20%.
• Certificate of Compliance Fee. Although fees vary it is often £150 + VAT @ 20% to £250 + VAT @ 20%.
• Replies to Leasehold Property Enquiries (or Freehold Management Enquires). Although fees vary it is often £350 + VAT @ 20% to £650 + VAT @ 20%.
• Any arrears of rent / service charge / land charge payment will need to be paid.
How long will my mortgage take?Each mortgage is different and depends on the situation. The average process takes between 3 to 8 weeks to completion.
It can be quicker or slower, depending on the mortgage lender. For example, if your mortgage lender accepts search insurance, the property is a freehold registered property then it could take 3 weeks. However, if you are mortgaging a leasehold property that requires an extension of the lease, this can take significantly longer than the usual 8 week maximum. In such, a situation additional charges would apply.
Exclusions - Is there anything excluded from the above fees?
Our fee estimates are based on a normal mortgage of a property so do not include unforeseen matters such as:
• If the transaction is an urgent transaction with short timescales
• Issues with the title deeds
• New build properties or properties that have been built within the last 10 years
• If the property is not registered with the land registry
• If there are planning or building control issues or the documents are not available
• If there are missing documents or missing deeds
• If indemnity policies are needed
• Some additional searches may be needed or requested by you such as mining searches have this will be specific to the property.
• Non-standard mortgages (such as bridging loans, lifetime mortgages/equity releases or mortgages where the lender instructs a separate firm of solicitors)
• Shared ownership properties or right to buy properties
• Transfers of equity / changes of name
This is not intended to be an exhaustive list.
Stages of the process
The precise stages involved in the mortgage of a residential property vary according to the circumstances and therefore the below is not an exhaustive list. However below the key stages in a normal mortgage:
• Take your instructions and give you initial advice
• Obtain your identification
• Receive your search fees from you
• Receive the mortgage
• Carry out searches
• Make any necessary enquiries of landlord / rent charge owner (if applicable)
• Report you on your mortgage offer
• Send mortgage deed to you for signature
• Agree completion date
• Draw down the mortgage funds
• Complete your mortgage
• Deal with application for registration at Land Registry
Our Property Lawyers and their experience:
Simon Finn
Merryn Macnamara
Kevin Craner
Marion Townsend