Mortgages & Re-mortgages
Our fees for dealing with the formalities of the new mortgage over your current home are:
Residential Re-mortgage
| Property price bracket | Our fees |
|---|---|
| Up to £500,000 | £750 plus VAT |
| £500,000 to £750,000 | £850 plus VAT |
| Over £750,000 | Contact us for a quote |
Buy-To-Let Re-mortgage
| Property price bracket | Our fees |
|---|---|
| Up to £500,000 | £1000 plus VAT |
| £500,000 to £750,000 | £1,100 plus VAT |
| Over £750,000 | Contact us for a quote |
Search fees
Our standard search packs include:
- Local Authority Search
- Water and Drainage Search
- Environmental Search
The cost of the search pack depends upon whether the Administrative Area within which the property you are buying is situated.
Searches are subject to VAT and example costs are provided below:
| Administrative Area | Price |
|---|---|
| South Hams District Council | £250.48 |
| Cornwall Council | £362.67 |
| Plymouth City Council | £255.42 |
| West Devon Borough Council | £250.48 |
| Additional searches | |
| Mining search | £50 + VAT |
Using the information above you can estimate the total sum applicable to your transaction. You can also contact our team for a free quote.
Example of fees and expenditures
A residential re-mortgage of a freehold property by an individual in Plymouth valued at £150,000
| Standard legal fee incl VAT | £900.00 |
| Bank Transfer Fee incl VAT | £42.00 |
| Credas ID Verification incl VAT | £3.24 |
| Local searches incl VAT | £300.00 |
| Pre-completion search fee payable to HM Land Registry | £3.00 |
| Land Registry Bankruptcy search fee (single name) | £2.00 |
| Office copies | £6.00 |
| Land Registry | £30.00 |
| Total costs | £1,286.24 |
The work involved is to check that the title to your property, which is to secure payment of the mortgage debt, is good and marketable and includes:
- Examination of the title to the property
- Obtaining all relevant searches
- Making enquiry as to any alterations or changes you may have made to the Property and obtaining copies of all relevant consents and compliance certificates
- Addressing the general and specific requirements of your mortgage lender (if applicable) and reporting to your Lender
- Checking your existing insurance arrangements are acceptable to your lender
- Redeeming any existing charges registered against the property
- Undertaking all appropriate due diligence
- Serving notice of the new mortgage on your Landlord or their agent/freehold management company (leasehold only)
Get in touch to discuss how we can help you.