Re-mortgage of a freehold registered residential property

Our fees cover all of the standard work required to complete the re-mortgage of the property, including dealing with registration at the Land Registry.

Our range of fees

Anticipated disbursements

These are payments which are additional costs that are payable to third parties.

The disbursements you may have to pay are:

• Fees for official copies of title – £7.20 (including VAT) for copy title and plan only.
• Search fees – these can range between £300 and £500 (including VAT) and will vary depending on where in the country the property is situated. Some lenders do not require full searches to be obtained but we will not know until a mortgage offer is received. See our guide here.
• Land Registry fees – these depend on the value of the new mortgage and whether or not the property is registered.  You can calculate the amount you will need to pay by using the Land Registry website https://www.gov.uk/guidance/hm-land-registry-registration-services-fees. (Scale 2)

We handle the payment of the disbursements on your behalf to ensure a smoother process.

Stages of the process

The precise stages involved in the re-mortgage of a freehold residential property vary according to the circumstances. However, below are the key stages generally included in the fees quoted for standard work:

• Taking instructions and initial advice
• Receiving mortgage offer and checking conditions (in any)
• Carrying out searches (if required)
• Obtaining copies of title deeds and any planning or other documentation required as a condition of the mortgage
• Sending mortgage deed to you for signature or seeing you in person
• Obtaining redemption statement for existing lender
• Arranging for all monies needed to be received from the lender and you (if any)
• Obtaining pre-completion searches
• Completing re-mortgage
• Redeeming any existing mortgage and accounting to you (if appropriate)
• Dealing with application for registration at Land Registry
• Providing copies of completed registration to you and the lender
• General telephone discussions with you throughout

Standard work does not include any additional charges or second mortgages, charging orders, Islamic mortgages or equity  loans;  commercial mortgages; re-mortgage by a company; buy to let properties; additional work required for unregistered property; any unforeseen matters or complexity such as, but not limited to, flying freeholds, deeds of covenant or compliance with rent charges, listed buildings, more than one piece of land or title, compliance with restrictions on the register, resolving or suggesting ways to resolve any title defect, arranging indemnity insurance policies for any defects found, additional agreements or documents such as transfer deeds, statutory declarations or declarations of trust between joint owners, and any other unusual features.

This is not an exhaustive list and does not include all possible exclusions. Examples of additional fees for common items of non-standard work are listed here.

Standard work assumes all parties are co-operative and there is no unreasonable delay by third parties providing documentation.

How long will my re-mortgage take?

How long it will take from your mortgage offer being received to completion will depend on a number of factors. The average process takes between 6 and 12 weeks. However, it can be quicker or slower, depending on any conditions that are contained in the mortgage offer and whether or not full searches are required, or any documents or certificates for work carried out to the property are missing, or there is a linked transaction.