Our fees are based on the amount of time it takes us to complete your re-mortgage efficiently and the seniority and experience of the lawyers and other fee earners working on your transaction. Our fees will be specifically agreed with you at the outset of your re-mortgage and will cover the work required to complete your re-mortgage, including dealing with registration at the Land Registry. Where the re-mortgage does not proceed to completion a reduction of up to 25% is usually applied to the agreed fees depending on how far advanced the re-mortgage is.
Our current hourly charge rates range from £305 for a recently qualified solicitor to £515 for a senior partner/consultant.
Occasionally a re-mortgage becomes unexpectedly more complex e.g. there might be an issue with the property that does not comply with the new lender’s requirements e.g. works carried out to the property without the necessary consents. We would notify you of this as soon as reasonably practicable, so that you can decide whether you wish to continue with the re-mortgage with the additional expense of us dealing with the unexpected extra work.
|Less than £1,000,000
|£4,300 – £6,300|
|£1,000,000 – £2,000,000
|£6,300 – £8,300|
|£2,000,000 – £3,000,000
|£8,300 – £10,300|
|£3,000,000 – £4,000,000
|£10,300 – £12,300|
|£4,000,000 – £5,000,000
|£12,300 – £14,300|
Our fee ranges assume that:
Disbursements are costs related to your transaction that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Disbursements are not included in our fee ranges, however, these typically include:
If you are re-mortgaging a leasehold property, there are other possible disbursements which may be payable under the terms of your lease. These are set out separately below. This list is not exhaustive and other disbursements may apply depending on the terms of the lease.
Any photocopying that is required will be charged at a commercial rate. This would usually be no more than £100 plus VAT where relevant.
VAT is payable at 20% on all legal fees and taxable disbursements.
How long it will take from your mortgage offer being received until completion of your re-mortgage will on average be between 4-8 weeks.
The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. However, below we set out some key stages that are relevant to most transactions:
You may review the experience and qualifications of our Private Client Property Team here
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