Transfer of Equity (no re-mortgage):
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
Property Value plus VAT
£100,001 – £250,000 – £500
£250,001 – £500,000 – £600
£500,001 – £1,000,000 – £700
Over £1,000,000 Please contact us for a specific quote
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.
Referral Fees: Please note if you have been referred to us by a certain third party, that Sutherland & Co Law Limited may, in certain situations, in relation to conveyancing transactions, pay referral fees to such said third parties. We would like to assure our clients, that any payment of referral fees is paid by this firm, and not by the client, and the firm ensures that it complies with the SRA Rules and Regulations in relation to the payment of such fees and has Referral Agreements in place prior to paying any referral fees. If you are being referred to us by a third party, then that third party is under a legal obligation to advise you of the referral fee and the amount. We would also do the same in any client care documentation issued to clients.
Our Residential and Commercial Conveyancing Department consists of:
Caroline Sutherland – Managing Director
Ian Machin Consultant Solicitor
Lindsey McAteer – Solicitor
Amanda Tomkins Senior Conveyancing Fee earner
Sally Gallagher Residential Conveyancer
Chelsea Peace – Paralegal
Kerry Thackeray – Paralegal/Assistant to MD
Tia Hollingsworth – Assistant to Amanda Tomkins
Leah Bolshaw – Legal Secretary to Sally Gallagher
The Supervisor for the conveyancing team is the Managing Director, Caroline Sutherland.
For more information please contact one of the team on 01302 279179 or click here to contact us.