There are many reasons why you may be thinking about buying a second home. You may want to purchase a holiday home or perhaps an investment property to rent out....
What does our service include?
Our services cover all of the work required to complete your mortgage or re-mortgage on your property, including dealing with the registration of your mortgage at the Land Registry.
The precise stages involved in the mortgage or re-mortgage of a residential property vary according to the circumstances. For example, our service typically includes:
- Take your instructions and giving you initial advice
- Obtain the current outstanding figure of your current mortgage
- Checking the title on behalf of your new lender
- Receive and review your new mortgage offer
- Report to you on the content of the offer and send you the mortgage deed for signing
- Arrange for all monies needed to be received from the new lender
- Complete the mortgage or re-mortgage
- Deal with the application to register the new charge at the Land Registry
How long will your Mortgage work take to complete?
The average work takes between 4 and 6 weeks. This assumes you can able to promptly provide all required information. It is important to note this may infrequently be elongated by your lender.
Who will act on your behalf?
Your matter will be undertaken by a member of our Residential Conveyancing team. You can view their profile pages by visiting Meet the Team page. We welcome your request for a specific member of the Residential Conveyancing team to act on your behalf but please note this may not always be possible i.e. we may decide another Solicitor has more appropriate skills for your matter.
How will my matter be supervised?
All our Residential Conveyancing matters are supervised by Lucy McCallum who is our Head of Residential Property Conveyancing.
How much will we charge you?
We will charge you a fixed fee as outlined below:
Our Legal Fees
Our fee for a:
Mortgage (adding a first Mortgage to a property) or Remortgage (changing lender) Our total fee inc. VAT: £600 to £720 Total ex. VAT: £500 to £600
A Transfer of Ownership (putting the property into different names of ownership) Our total fee inc. VAT: £500 Total ex. VAT: £416.67
Doing both? Our total fee inc VAT: £900 Total ex. VAT £750
You will also be required to pay fees for the following:
ID Search using Thirdfort, Our total fee inc. VAT: £24 Total ex. VAT: £20
Bank Transfer fee for a same day payment using CHAPs Our total fee inc. VAT: £48 Total ex. VAT: £40
What will we pay to third parties on your behalf?
In the majority of mortgage matters we expect to pay between £5 to £20 on your behalf to third parties. It is important you note we do not make any money from these payments.
What happens if your matter becomes abortive?
We charge all clients an abortive fee dependent on the percentage of the work we have completed (i.e. we will charge 75% of the fee if we have completed 75% of the work) plus any third party payments incurred on your behalf.