Mortgages and Remortgages

Our fees cover all the work required to complete the remortgage or mortgage of your property. It is difficult to give a definite timescale for completion of the matter but we normally advise that a remortgages/mortgage transaction should complete within approximately four to six weeks. This is of course dependent upon you obtaining a mortgage offer and whether the mortgage lender requires searches.

Our standard fixed fee for a remortgage is £500.00 plus VAT.

Disbursement Costs

Disbursements are costs related to your matter that are payable to third parties such as Bank fees, Estate Agents fees and Land Registry costs. The usual disbursements in relation to a sale transaction are set out in the below table however this is not an exhaustive list as there are certain disbursements that will be payable depending upon the individual transaction. To ensure the smooth running of your sale we will handle payment of the disbursements on your behalf and will always notify you of any additional disbursements upon receipt.

  • Searches (if required)

    £250.00 approx.
  • Office Copies

    £6.00 – 15.00
  • Bank Transfer Fee

    £27.60
  • Land Registry Fee

    £40-£60
Additional Costs

Every transaction is individual and therefore it is impossible to be able to provide a list of additional costs for every eventuality. However in our experience the following matters can give rise to additional costs and expenses:

  • Indemnity Insurance policies – These are used to cover a number of issues such as defective legal title, missing information, lack of planning permission or building regulation approvals. At the point it becomes evident that such policies are required we will contact you to advise the cost of the policy and then provide you with the relevant Demands and Needs statements in relation to such policy.
  • Leasehold fees – When remortgaging a property there may be conditions in the Lease that impose charges upon owners such as Notice of Charge fees. We will ascertain any charges in this respect and advise you of them.

What Can I Expect

Our aim at Elliott Bridgman is to make the process for you as smooth and quick as possible keeping you fully informed at all times. Our team is dedicated, friendly and professional and the Department prides itself on its high level of customer service and pro-active nature.

The usual stages in relation to a mortgage or remortgage of a property are as follows:

  1. Receive your instructions, open and file and send the questionnaires to you for completion.
  2. Issues concerning the validity of Wills
  3. Verification of your identity.
  4. Receive the mortgage offer and instruct searches if required by the lender.
  5. Obtain your signature to the mortgage deed.
  6. Request the draw down of the advance monies.
  7. Repay any existing charges and pay any monies due to you.
  8. Register the new charge at HM Land Registry.