Residential Conveyancing – Transfer of Equity/

Re-mortgage Legal Fees

Transfer of Equity (no re-mortgage): – FIXED FEE AS BELOW

• £0.00 to £250,000 –             £475.00 Plus VAT at 20% = £570 
• £250,00 to £500,00 –           £550.00 Plus VAT at 20% = £660
• £500,000 to £1 million –     £575.00 Plus VAT at 20% = £690
• Over £1 million Please contact us for a specific quote

Likely expenses

• Official copy of register entries £7.20 (inc VAT) per document 
• Land Registry search £8.40 (inc VAT) 
• Bankruptcy searches £7.20 (inc VAT) per name
• File opening fee – £42.00 (inc VAT)
• Thirdfort Identity Check £20.34 (inc VAT) per name
• Land Registration fee – Varies on Consideration

Our legal fees (not including VAT or expenses) for transfer of equity may or may not, link to a re-mortgage of the property by one or two parties.  If this is the case then our legal fees for Transfer of Equity will be in addition to the re-mortgage fees (see below). 

If there is no re-mortgage, or if you are staying with the same mortgage lender and one person being added or removed to/from the existing mortgage, then you may  just require a transfer of equity.   If this is the case, we will deal with the incoming or outgoing party (that party will probably require independent legal advice), or their solicitors in relation to the documentation required to add or remove someone from a legal title.  We will draft the relevant documentation.   The fees includes everything from beginning to end and include registering the transfer at HMLR.

Please note that in some situations (depending on the amount of any existing mortgage and any consideration contained in the Transfer, there could be stamp duty payable on a transfer of equity.  If this is the case we will liaise with you during the transaction in relation to this.  If stamp duty is payable then we will deal with the completing of the necessary Stamp Duty forms and payment of stamp duty for you.

Please note if additional work is required outside the scope of a standard transfer of equity, then there may be additional fees incurred.  Please speak to a Conveyancer regarding this.

RE – MORTAGE & MORTGAGES – FIXED FEE AS BELOW

Property Value           plus VAT

£0.00 – £250,000 – £700 Plus VAT at 20% = £840

£250,001 – £500,000 – £725 Plus VAT at 20% = £870

£500,001 – £1,000,000 – £800 Plus VAT at 20% = £960

Over £1,000,000 Please contact us for a specific quote

Likely expenses

• Third Fort ID Check (per person)- £20.34 
• Search fees/or search indemnity insurance-£163 – £190 (inclusive of VAT)
• Office copy entries and filed plan fee per title – £7.20 (Fixed Fee)
• Land Registry search title- £3.60 (Fixed Fee)
• Bankruptcy search fee (per person ) £2.40 (Fixed Fee)
• File opening fee – £42.00 (inc VAT)
• Land Registration fee – Depends on amount of mortgage (Fixed Fee)

Our legal fees (not including VAT or expenses) in connection with a re-mortgage cover all work required in relation to a re-mortgage.  This includes checking that the legal title is acceptable security for the mortgage lender, dealing with any existing mortgage lender in order to obtain settlement figures, checking through the basic details of the new mortgage offer and reporting to you on the same.   Once we have everything, if need be, new settlement figures will be obtained and we will then arrange to drawdown on your new mortgage offer and then on completion pay any existing lender in full to discharge the Charge against the Property, and then account to you for any balance.  We will then register your new mortgage lender’s charge against the property.  Once the registration is completed we will then send you a copy of your updated legal title for your records.

Please note that if there is additional work required outside the scope of a standard re-mortgage e.g a deed of postponement required, then additional fees will be incurred.  Please speak to a Conveyancer about this.