conveyancing, house purchase and houes sale, home information packs by GB Solicitors of Fareham Hampshireproperty purchase and property sale, conveyancing and home information packs - GB Solicitors, Fareham Hants
This page is for remortgages only.

If you are making a change to the registered ownership at the same time as changing mortgage then the costs and disbursements involved will be higher.

Please contact us during office hours for more accurate figures.

Freehold remortgages

Our fee from £250 plus VAT and expenses

The expenses will always include a Land Registry fee of at least £40 to register the mortgage and other fees of at least £30 plus VAT to obtain copy documents and carry out Land Registry and bankruptcy searches on behalf of the lender. Whether other expenses are incurred, and the cost of these, will depend upon the requirements of your chosen lender.   Usually a lender will either insist on legal searches (typically costing about £200) or legal search insurance (typically between £20 and £30). Sometimes it will also be appropriate for us to incur bank transfer fees.

For a straightforward freehold remortgage the total cost to you will usually be about £400. We cannot be more precise until the exact requirements of the lender are disclosed in the lender's formal mortgage offer.

Some lenders will deal with straightforward remortgages in-house so when we are asked to assist with a remortgage there is often some complexity involved which will mean that our minimum fee of £250 plus VAT may not cover all the work involved.  If your chosen lender is unable or unwilling to handle your remortgage itself please write in to our offices with details of what is involved so we can consider what work is required to achieve the remortgage.  We will then respond with an estimate of our fees and the other expenses involved.

Leasehold remortgages

We do not recommend that people remortgage leasehold properties. This often involves more expense than on a purchase of a leasehold property. On a purchase the expenses are shared between seller and purchaser. The same costs involved on a remortgage fall entirely on the owner and can be out of proportion to the benefits of the remortgage. It is no surprise to us that lenders who offer remortgages with "free" legal fees often exclude leasehold properties from these deals.

If you do want to remortgage a leasehold property then please contact us to obtain details of the likely costs.  Many of the expenses will depend on the terms of your lease or the charges of the freeholder or their managing agents and these are not things we will know at the outset.  The actual expenses on a leasehold remortgage will only become apparent once the work is being progressed.

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