Our fees will be £750+VAT (charged at 20%) for a freehold residential remortgage and £1250+VAT (charged at 20%) for a leasehold residential remortgage.
In addition, we will charge a Bank Transfer Administration Fee of £30 (plus VAT) per transfer (for all transfers of £50,000 or more) and also a Compliance Administration Fee of £20 (plus VAT) per person or per company (as appropriate) for dealing with client identification and anti-money laundering compliance requirements.
Remortgaging
If you are remortgaging your home, we will need to carry out conveyancing searches which will be the same as for a purchase. Sometimes a lender will allow us to omit the searches if we can provide some insurance cover. Where we can we will do so as this is always a cheaper option. The exact amount can be confirmed when we give you a quotation as it will depend on the amount you are planning to borrow.
Land Registry fees will be payable but again this depends on the amount you are borrowing and will range from £20 (for loans under £100,000) to £125 (for loans over £1million)
Our typical remortgage quote for a freehold property will look like the following:
| Freehold | Leasehold | ||
|---|---|---|---|
| Legal fee | £750.00 | Legal fee | £1250.00 |
| VAT on fees | £150.00 | VAT on fees | £250.00 |
| Official copies | £14.00 | Official copies | £28.00 |
| VAT on official copies | £2.80 | VAT on official copies | £5.60 |
| Searches | £385.00 | Searches | £385.00 |
| VAT on searches | £77.00 | VAT on searches | £77.00 |
| Pre-completion searches (InfoTrack) | £10.00 | Pre-completion searches (InfoTrack) | £10.00 |
| VAT on pre-completion searches | £2.00 | VAT on pre-completion searches | £2.00 |
| InfoTrack charges | £10.00 | InfoTrack charges | £10.00 |
| VAT on InfoTrack charges | £2.00 | VAT on InfoTrack charges | £2.00 |
| Land registry fee | £40.00 | Land registry fee | £40.00 |
| TOTAL | £1442.80 incl VAT (charged at 20%) | TOTAL | £2059.60 incl VAT (charged at 20%) |
The above quote is an estimate of costs only and you will need to contact a member of our residential conveyancing team for a specific quote tailored to suit your requirements.