Personal

Remortgaging

Our property solicitors can help you ensure that the process of remortgaging is as simple and stress-free as possible.

SOLVING PERSONAL LEGAL MATTERS

If you've decided to remortgage your home, Forbes Solicitors can make sure the process is as simple and as stress free as possible.

Remortgaging could be a great idea if you are looking for ways to save money on the repayments on your property by getting a better rate mortgage from a lender.

In today's current climate remortgaging is becoming quite popular with property owners looking to save money, but it's also very easy for people to get the wrong solicitor handling their transition and then finding themselves in financial strife when a detail has been missed.

At Forbes, we work with you to make sure you fully understand the process and make sure you're aware of any legally binding conditions.

Forbes Remortgaging Conveyancing Service

We offer a completely tailored service and keep your best interests at the heart of everything we do, ensuring you're kept up to date with every aspect of your remortgaging process by phone and email.

We understand that the legal aspects of residential conveyancing, including buying, selling or remortgaging are inherently stressful, and as such make sure you only deal with the solicitor responsible for your case to ensure peace of mind throughout the process.

As the process of remortgaging can be a little confusing, it's vital you have the best team on your side with experience in this area.

We can handle every aspect of your remortgage instruction, from the initial request of title deeds to your existing lender, right through to completion where we will register your new mortgage at the Land Registry, ensuring all documents are sent to all applicable parties.

Expert Remortgaging Advice

If you are looking to remortgage your property, let Forbes assist you and make sure you're getting the best service available from expert remortgaging solicitors.

With a commitment to exceptional customer service and a reputation as solicitors who get the job done, you're in great hands when you instruct Forbes to handle your remortgaging case.

Additional Information

Cost of Remortgaging

Our charges are broken down into costs and disbursements. Disbursements are costs payable to third parties such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Our estimates and quotes will give a breakdown of all charges and will then have a total figure, which is inclusive of VAT.

Costs on a remortgage

The average costs on a remortgage are £325 plus VAT at 20%

Search Pack (if required)
SIM search
Land Charges Search fee

If a search pack is not required the average cost will be in the region of £20. If a search pack is required the cost will range between £200 - £300 Plus VAT at 20%.

We make an additional charge of £25 plus VAT at 20% for each telegraphic transfer of monies that is required during the transaction.

Land Registry fees are also payable based on the amount of money being borrowed. Land Registry Scale 2 fees:

Value or amount	Apply by post	Apply using the portal or Business Gateway, for transfers of whole, charges of whole, transfers of charges and other applications of whole of registered titles	Apply using the portal or Business Gateway for registration of transfers of part, and all other Scale 2 applications that do not affect the whole of a registered title
0 to £100,000	£40	£20	£40
£100,001 to £200,000	£60	£30	£60
£200,001 to £500,000	£80	£40	£80
£500,001 to £1,000,000	£120	£60	£120
£1,000,001 and over	£250	£125	£250

Our fees assume that:

This is a standard transaction and that no unforeseen matters arise for example (but not limited to) a defect in the legal title which requires remedying prior to completion or the preparation of additional documents, for example a Declaration of Trust
For lease transactions this is an assignment of an existing lease
That the transaction is concluded in a timely manner and that there are no unforeseen complications
Additional payments may apply if indemnity policies are required
If there is a ground rent, rent charge or Management Company involved further payments to third parties are likely to be required.

We charge additional fees for the following:

New build
Help to Buy Mortgages (but not Isa's)
Verifying identity and additional source of funding from third parties other than our clients
Shared ownership properties
Checking auction packs where the transaction needs to be expedited.

Please note that Stamp Duty, VAT and other payments may be subject to variation.

It is a good idea to know what is involved and understand how the process works . For a more detailed guide to the process for a typical property sale and purchase see our Property Guide.

How long will it take?

A standard transaction will take approximately 8 weeks from the time we are instructed however there can be a number of factors which impact on the timescale such as:

The number of parties in the chain
If there is a delay in your mortgage offer being issued or the offer is incorrect
If there is something unexpected in your search results
If the legal title to your property is complex
If there is a Management Company involved
The timescales wanted by other people in the chain

There are some variables with any property transaction so please either give us a call or drop us a line and we will give you a detailed breakdown of all the fees and costs involved for your particular circumstances.

How will we communicate with you?

At the outset of the transaction, we will ask you how you prefer to be contacted. If you have an email address this can save a considerable amount of time but buying and selling a property is not yet a paperless exercise so there will be some documents that will need to be signed by you. We will offer you a personal appointment in the office so you get chance to sit down with us so that we can talk you through the paperwork and the process face to face or, if you prefer, we will arrange a telephone appointment.