At Hart Jacksons we are proud to be open and transparent with regards to our costs. Whilst no property is the same and the issues arising in a mortgage/re-mortgage will differ from one property to the next, we recommend that you telephone us with as much information as possible about your transaction and to discuss your particular requirements so that we can provide you with an accurate quote at the outset.
We pride ourselves on our personalised service and our experience in dealing with all manner of properties, in particular those in rural locations, means that we are well placed to consider the potential issues which may arise early on in the transaction and our quotes are tailored accordingly.
Services Included
Our fees cover all of the work required to complete your mortgage/re-mortgage including dealing with registration of the Mortgage Deed at the Land Registry.
Key Stages of a mortgage/re-mortgage
A broad outline of the key stages and timescales are:
Appointment of conveyancer to act on the transaction, provide ID and proof of address. Obtaining evidence of your title. Making up-to-date searches as required by your new Lender; (2 weeks)
Preparing and submitting a Report on Title to your new Lender and complying with its various requirements; (2 weeks)
Making the pre-completion legal arrangements and checks. Getting the mortgage money from your new Lender and any balance we will need from you. On completion day, paying off your old mortgage and sending any surplus to you. (2 weeks)
Registering the change of mortgages at the Land Registry;
Acting for your new Lender to make sure that its interests are properly protected.
Conveyancer’s fees and disbursements
Property Value |
Freehold Fee (Plus £250 +VAT for Leasehold) |
FH Total |
LH Total |
|---|---|---|---|
| Up to £125,000 | £815 + £163 VAT | £978 | £1278 |
| £125,001 to £250,000 | £865 + £173 VAT | £1038 | £1338 |
| £250,001 to £350,000 | £970 + £194 VAT | £1164 | £1464 |
| £350,001 to £500,000 | £1070 + £214 VAT | £1284 | £1584 |
| £500,001 to £750,000 | £1430 + £286 VAT | £1716 | £2016 |
| £750,001 to £2,000,000 | 0.30% of Property Value + 20% VAT | TBC | TBC |
The above charges are based on the assumption that:
- the property is currently held under a single title at the Land Registry with no title defects;
Additional fees may be charged if the transaction requires the following:
| Upgrading titles (from possessory to full): £200 (+ £40 VAT) |
| Indemnity Fee standard £25 (+ £5 VAT) , bespoke £75 (+ £15 VAT) |
Disbursements
Disbursements are costs related to your matter that are payable to third-parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. The usual disbursements are as follows:
Search fees (Local, water and drainage and environmental): £300.00 inclusive of VAT (approx. – depending on the location of the property)
HM Land Registry fee: click here for further details
Land Registry Bankruptcy search fee per person: £6 plus VAT (£7.20)
Land Registry search fee: £3.75 plus VAT (£4.50)
Identification Search fee per person: £12 plus VAT (£14.40)
Electronic money transfer fee: £25.00 plus VAT (£30.00)
If it becomes apparent that there are unforeseen circumstances in connection with the transaction we may have to increase our charges, but if that is the case, we would inform you before we incur any additional costs.
Total Costs
Whilst the total cost of your purchase will be dependant on a number of factors we provide the following illustration as to how the total costs are calculated:
For the mortgage of a property by a couple which is registered at the Land Registry and valued at £200,000:
| Hart Jackson and Sons fees | £865 |
| VAT on our fees | £173 |
| Local Drainage and Environmental searches | £300 (approx) |
| Bankruptcy search fee | £7.20 |
| Land Registry search fee | £4.50 |
| Land Registration fees | £30 |
| Identification search fees | £14.40 |
| Telegraphic Transfer fees | £30 |
| Total (Including VAT) | £1,424.10 |
How long will my mortgage/re-mortgage take?
The average timescale for completing a transaction of this nature is 8 to 12 weeks. Please note that these are the average timescales and can vary according to the circumstances of each transaction.
Professionals
Our team has over 20 years of collective experience in delivering high quality work in all Conveyancing matters. They have particular expertise in Trust and Estates, Commercial and Residential Conveyancing.
We have four members of the team who may work on your matter. Regardless of who works on your matter, they will be supervised by Naomi Marczak, Partner and head of the property team.
Naomi qualified as a Solicitor in 2008 after gaining an LLB (Hons) from the University of Warwick, she completed her training contract at Hart Jackson & Sons. Naomi has completed a STEP qualification and is a Trust and Estate Practitioner.
More information on the property team can be found on our Meet the Team page. Click here
