Remortgage conveyancing with best value guarantee
Expert legal support for your remortgage with transparent pricing and no hidden fees
Legal fees
The first component is the legal fee – what we charge for our work. This is what you pay for our lawyers’ time looking after your remortgage. Think of it as the labour charge for the entire transaction, similar to a mechanic or plumber.
Best Value Promise: Because we’re Best Value Conveyancing we have kept our fees down so they are competitive and represent good value for money.
Transfer of Equity
Small additional fee for changing property ownership without selling – for example, taking one person off the deeds or putting another person on. This can also involve changing respective shares in the property where previously unspecified or in different amounts.
Disbursements
Disbursements are various other expenses associated with remortgaging a property. Think of them as the “parts” of your transaction – your solicitor needs them to do a proper job, but has less ability to control their amount. Disbursements don’t vary much between solicitors.
Identity Check
Small fee to verify your identity. All solicitors and regulated professionals must be satisfied who they’re dealing with to reduce money laundering risk. This is a legal requirement, but the fee is very small.
Land Registry Registration Fee
Fee charged by HM Land Registry to register the remortgage. The figure varies depending on mortgage size, with thresholds changing at £100,000, £200,000, £500,000 and £1,000,000.
Office Copy Fee
Fee charged by Land Registry for providing copies of the current official property record and relevant plans. We subscribe to a special scheme allowing reduced costs, which we pass on to you.
Bank Transfer Fee
A remortgage is actually settling one mortgage by taking out another. It involves money transfer, and banks charge solicitors for sending money via their system. This is the charge levied by banks for this service.
Bankruptcy search
Small fee (£2 per name) to check with the Official Receiver that no party is bankrupt. Where bankruptcy exists, we must deal with the trustee in bankruptcy regarding the bankrupt’s property interest.
Search Indemnity Insurance
While purchases require searches costing £238.80, in remortgage transactions your solicitor purchases Search Indemnity Insurance. This covers you if something has changed since original searches were undertaken.
The fee varies depending on mortgage size but is usually about £30. Some lenders insist on searches being undertaken – if so, your case handler will advise you.
OS1 Search
Your solicitor also checks with Land Registry for any changes to the Register since obtaining your Office Copy documents, ensuring no new mortgages were taken out meanwhile.
Get your remortgage conveyancing quote today
If you want to go further with your remortgage conveyancing quote, or even if there is any aspect of your quote you’re not sure about, please don’t hesitate to get in touch – we’re always happy to help, and we’re only a phone call or email away! Call us now on 08000 387 007