Remortgages

For remortgages where you are borrowing up to £500,000.

 

FREEHOLD

 

Where you are not borrowing in a company name, our fees will probably be: £345 plus VAT (£414). If you are remortgaging through a company we will charge a higher rate (£300 plus VAT (£360) in addition).

  

LEASEHOLD

 

Where you are not borrowing in a company name, our fees will probably be: £445 plus VAT (£534). If you are remortgaging through a company we will charge a higher rate (£300 plus VAT (£360) in addition).

 

We charge an additional £100 plus VAT (£120) for every £250,000 by which the mortgage exceeds £500,000.

 

YOU MAY ALSO HAVE TO PAY THE FOLLOWING DISBURSEMENTS

 

NOTE 1. WE DO NOT MAKE ADDITIONAL CHARGES FOR OFFICIAL COPIES OF TITLES, POSTAGE AND STATIONERY OR IDENTITY CHECKS 2. WE DO NOT CHARGE FOR INDEMNITY INSURANCE ALTHOUGH WE ARE COVERED UP £2M.

You will need to let us have details of the location of the property to confirm the search fees (please check the “Land Charges fees” section of the website of the local authority in which the property is situated) and the amount of the mortagage advance to confirm the Land Registry fees (see http://landregistry.data.gov.uk/fees-calculator.html for Land Registry fees information). On leasehold remortgages we can’t advise you of the cost of the notice of mortgage without seeing the lease. The fee is usually between £35 and £120.

 

We will accept instructions without receiving any payment on account but we will require payment of the search fees (if  a search is required). If the mortgagees instruct their own solicitors we may need funds to cover any undertaking for their fees and disbursements (which doesn’t usually happen).

 

We will normally stick to our estimate although the work may be more than we expected. We will normally advise you well in advance if our estimate is likely to be exceeded to give you a chance to obtain prices for the work to be carried out elsewhere.

Please be aware that our fees do not cover other matters that may be associated with the sale such as bankruptcy proceedings or matrimonial disputes where correspondence has to be entered into with creditors’ or another party’s legal representatives.

 

Most of the work will be carried out by Douglas Narayan and James Coulson who are solicitors.

© 2019 by Ferns Solicitors 

Ferns is authorised and regulated by the Solicitors Regulation Authority (number 79274).

Nothing on this site should be treated as legal or practical advice. The information should be treated as a guideline requiring specific legal advice.