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* |
| £500,001 | Fees starting at £850 plus VAT with a cap of 0.4% of the property price |
*All reference to VAT on this page is at the standard rate of 20%
Buy-To-Let Re-mortgage
| Property price bracket | Our fees |
|---|---|
| Up to £500,000 | £1000 plus VAT* |
| £500,001 + | Fees starting at £2,000 plus VAT with a cap of 0.4% of the property price |
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 20% 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 | £3.96 |
| Local searches incl VAT | £300.00 |
| Pre-completion search fee payable to HM Land Registry | £7.00 |
| Land Registry Bankruptcy search fee (single name) | £7.00 |
| Office copies | £14.00 |
| Land Registry | £30.00 |
| Total costs | £1,306.96 |
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)
*All reference to VAT on this page is at the standard rate of 20%
Get in touch to discuss how we can help you.