Thank you for looking at our property services. Remortgaging your home can be just as complicated and stressful as buying a property. We are here to take the stress out of the remortgaging process. At a time where money really matters, we always provide a quality service at a fair price.
- Personal service
At Christopher Davidson your transaction won’t be handled by a “conveyancing team” your matter will be dealt with personally by one of our experienced property lawyers who will have dedicated and exclusive responsibility for your file. He or she will give you individual attention and will be there to guide you through the whole process. We will be happy to meet you to discuss documents which can often seem confusing and complicated. All our conveyancers pride themselves on their friendly and common sense approach.
All of our conveyancing lawyers have many years' experience of dealing with a wide range of property matters both locally and elsewhere in England and Wales. This specialist experience means that there will be few situations likely to arise which they haven’t dealt with before, and they will be able to minimise any problems that might occur. If you are buying or selling in Gloucestershire, their local knowledge means that they will often have inside information about properties and locations, ensuring that you always have the best possible advice.
We understand the importance of communicating promptly in plain English with everybody involved in the conveyancing process. We have up to date technology with direct links to the Land Registry, search agents, Companies House and other organisations which hold or provide essential information. Above all, our residential property lawyers know how vital it is to keep you informed at all times.
- Conveyancing Quality Scheme
We are proud to hold the CQS Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
We appreciate that the fees involved in any transaction are important and we review our fees regularly to make sure we always offer excellent value for money. No property or transaction is exactly the same and because of this we will always give you an individual costs estimate at the start of the transaction taking into account the actual circumstances of the matter.
Our fees (including VAT) for remortgaging a residential property range from £510 for the most straightforward transaction involving a property with a low value and a modest mortgage amount, to over £1,500 for a more complex remortgage of a property with a high value.
By way of example, our fees for the remortgage of a freehold property without unforeseen complications to secure a typical new mortgage of £150,000 will be as follows:-
Our Legal Fees
Electronic money transfer fee
Our fees cover all the work required to complete the remortgage of your property , including discharging your previous mortgage and dealing with registration of the new mortgage at the Land Registry.
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Disbursements are dependent upon the circumstances of the transaction. Typical disbursements which would apply to the remortgage of a freehold residential property to secure an advance of £150,000 would be as follows:-
HM Land Registry Fee
Electronic anti-money laundering check (per name including VAT)
Many lenders will accept no search indemnity insurance instead of obtaining fresh search results which may mean a saving of cost. The premium for the insurance depends on the value of the property and the typically range is from £60 to £200.
The total cost, including legal fees and disbursements (assuming searches are required) for the remortgage of a freehold property to secure an advance of £150,000 will be £1102.10.
Our fees are generally fixed and assume a straightforward transaction with no unforeseen difficulties. However there may be factors which could increase the cost of the fees estimated. If there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- If the property is leasehold
- If a legal title is defective or part of the property is unregistered
- If we discover building regulations or planning permission has not been obtained
- If crucial documents, we have previously requested from you have not been provided to us
- If your mortgage lender instructs its own solicitor
- If there is more than one mortgage to redeem
A typical transaction will take between 6-8 weeks. However, if there are complications which need to be taken into consideration, it may increase the time. We will discuss this with you at the earliest opportunity so you always have a clear picture of how long things are likely to take.
With every transaction there are key milestones, which may vary according to individual circumstances. The most usual stages of the process are:
- Taking your instructions and giving initial advice based on the information you have provided
- Carrying out the usual anti-money laundering and client identification checks
- Obtaining a copy of the title to the property
- Undertaking searches
- Checking the mortgage offer
- Preparing for completion
- Requesting the mortgage advance
- Arranging for you to sign the mortgage deed and any associated documents
- Undertaking final searches at the Land Registry
- Obtaining redemption statements from any current lender(s)
- Completing the remortgage
- Redeeming any current mortgage
- Completing and submitting an application for registration at the Land Registry
To obtain a detailed no obligation quotation tailored to the specific circumstances of your transaction please call us on 01242 581481 and ask to speak to one of our dedicated property lawyers or click here to use our simple online form.