Landlord Services
Re-Mortgage
Award Winning Law Firm | Fixed Fees are available.
Are you thinking of remortgaging your property? If so, we offer a fixed fee quote and aim to make the process as simple as possible.
Obtain a quotation for your re-mortgage using our Conveyancing Quote Calculator or see our costs here.
Conveyancing Quote Calculator
Re-Mortgage
If you’re looking to re-mortgage your home or buy to let property, our experienced conveyancing team can guide you through the process. Our conveyancers have experience in dealing with these types of matters and will aim to make the process as quick and stress free as possible without compromising on service.
Re-mortgaging is when you change the mortgage on your existing property to a new lender. You may be re-mortgaging for a better deal or because your circumstances have changed, we will be here every step of the way to guide you through the process.
Owing to our Law Society Quality Conveyancing Quality Standard accreditation we are on most major mortgage lender panels.
Re-mortgaging is when you change the mortgage on your existing property to a new lender. You may be re-mortgaging for a better deal or because your circumstances have changed, we will be here every step of the way to guide you through the process.
Owing to our Law Society Quality Conveyancing Quality Standard accreditation we are on most major mortgage lender panels.
Re-mortgages can be paired with Transfers of Equity should the property be subject to a current mortgage but the legal ownership is to change.
Costs Information
A fixed fee quotation can be obtained using our Conveyancing Quote Calculator (green button at the top of the page) or by clicking here.
All re-mortgage quotations will consist of legal costs (the costs for the services provided which are subject to VAT (currently 20%) and disbursements. Disbursements are necessary third party costs such as Land Registry document and registration fees and Stamp Duty Land Tax/Land Transaction Tax (if applicable) etc.
As a standard and generally speaking, our fixed fee for acting in the re-mortgage of a property consists of the following:
- Checking over the paperwork completed by you.
- Requesting and inspecting a copy of your Title from Land Registry.
- Requesting a settlement figure for your mortgage and any other secured loans (if any).
- Liaising with appropriate parties and arrange a completion date.
- Organising final accounts and prepare a completion statement.
- Collecting in any balance of funds required.
- Paying off any one existing mortgage registered against the property.
Unless otherwise advised, any quotation is given on the basis that:
- The property is currently held under a single freehold title at the Land Registry with no title defects.
- There is one single charge/mortgage registered against the property.
Timescale Information
On average a re-mortgage transaction takes between 4-6 weeks to complete although this is very much an average and some transactions will complete sooner and some will take exceed this timescale. More complex transactions such those involving leasehold properties, management companies, second charges (Help To Buy for example) transfers of equity etc will likely take longer to progress than standard transactions.
As a very rough guide and noting that all transactions can proceed slightly differently and at different timescales due to the complexities involved in a conveyancing transaction, we would consider the key stages to be the very basic stages:
- Obtaining the documents of title to the property from the Land Registry
- Investigation of title is carried out to ensure that the property is suitable security for the mortgage lender and meets their requirements. This is usually completed whilst other formalities such as mortgage arrangements are undertaken
- Investigation of title is completed and pre-completion arrangements are made
- Completion takes place and post-completion formalities are attended to
If you have any questions regarding our conveyancing remortgage service, please contact us on conveyancing@newboldsolicitors.com or call 0330 123 1131.
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Landlords FAQ
- Do I need to use a Solicitor/Conveyancer to purchase a property?
- The use of a Solicitor/Conveyancer is very much recommended and specifically required where you are purchasing with the assistance of a mortgage.
- Will my Solicitor/Conveyancer provide advise on Stamp Duty Land Tax (SDLT) or Land Transaction Tax (LTT)?
- No. Whilst a general calculation may be produced based on information provided via the relevant SDLT/LTT calculators, this is not advice and should advice be required, this should be sought from a person suitably qualified to provide such advice as the tax rules can be intricate.
- Do I need to have conveyancing searches?
- The use of conveyancing searches is very much recommended and in most cases specifically required where you are purchasing with the assistance of a mortgage. We utilise personal searches where possible which can be returned sooner than official searches.
- Will my Solicitor/Conveyancer deal with any issues which arise in my survey?
- No. The results of your survey are for you, however, our Solicitors/Conveyancers will review the section entitled ‘Issues for your legal advisor ’if the report is forwarded. Solicitors/Conveyancers are not suitability qualified to interpret the remainder of the report and you should discuss this with your surveyor. Should anything be unsatisfactory for which you may wish to seek a price reduction, any negotiations should be dealt with via any Estate Agents and your Solicitor/Conveyancer kept updated as to the conclusion.
- How many people can purchase land/property?
- The Land Registry only accommodates up to four people to be registered as legal owners of a land/property. Should more than four persons wish to have an interest in land other arrangements would need to be made to purchase such as via a company, trust or other investment vehicle.
- How can I get a quotation for the sale or purchase of a property?
- We have a Conveyancing Quote Calculator which is embedded within our website. Once you enter the details of your intended sale/purchase a quotation can be provided. However if you prefer to speak with our friendly staff, please call our offices where we will be pleased to arrange a quotation for you.
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