Please note that any mention of VAT on fees throughout this page refers to the standard rate of 20%.
These fees cover all of the work required to repay your old mortgage and complete a new mortgage on your home, including registration at the land registry.
Our fees for a new mortgage on a freehold property are £500.00 plus £100.00 VAT, equaling £600.00 + disbursements.
Our fees for a new mortgage on a leasehold property are £650.00 plus £130.00 VAT, equaling £780.00 + disbursements.
Example Costs
Having a new mortgage with the borrowing of £100,000.00
| Our Fee | £500.00 |
| Bank Charges | £30.00 |
| VAT | £106.00 |
| Land Registry (Estimated) | £40.00 |
| Searches (Estimated) | £380.00 |
| Sub-Total | £1056.00 |
Disbursements
Additional fees, payable to a third party, handled by us.
Standard Disbursements are:
- Searches: Approximately £380.00
- Electronic money transfer fee: £30.00
- Calculate Land Registry Fees Here
These fees vary from property to property. Contact us to get an accurate figure.
Here are some frequently asked questions
How long will my property purchase take?
How long it will take from receiving your mortgage offer to receiving the loan money depends on several factors. The average process takes between 3-6 weeks. It can be quicker or slower, depending on the lender’s requirements.
What does the fee assume?
Our fee assumes that:
- This is a standard transaction, and no unforeseen matters arise, including, for example (but not limited to) a defect in title which requires remedying before completion or the preparation of additional documents ancillary to the main transaction.
- The transaction is concluded promptly, and no unforeseen complications arise.
- All parties to the transaction are cooperative, and there is no unreasonable delay from third parties providing documentation.
- No indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
What is the process?
The precise stages involved in the new mortgage of a residential property vary according to the circumstances. However, set below we have set out some of the key stages:
- Take your instructions and give you initial advice.
- Receive and advise on mortgage documents.
- Carry out searches.
- Go through the conditions of the mortgage offer with you.
- See you to sign the mortgage documents.
- Obtain pre-completion searches.
- Arrange for all monies needed to be received from the lender and you.
- Complete the new mortgage and send the advance money to you.
- Deal with the application for registration at Land Registry.