Re-Mortgages

Our costs for a mortgage or re-mortgage

 This page gives you information about our fees for dealing with the mortgage or re-mortgage of a freehold house or leasehold flat, and the expenses you will incur in connection with our work. Not all properties are the same, and there may be more fees or expenses involved, for example, in re-mortgaging an historic cottage than a brand new home.

If you call us and give us a few details of the property you are mortgaging, and your mortgage arrangements, we can give you a personalised quotation which will detail our fees and the expenses likely to be payable in your particular transaction.

For your free, “no obligation” quotation, please call one of our experienced conveyancing team on 01223 578070 (Cambridge) or 01223 518317(Histon).

Our conveyancing team

 Mortgage transactions are dealt with by Alison Blackman, Laura Hales, Kathy Peak and Kelly Hall in our Cambridge office where Alison supervises the team, and by David Parker and Sharon Harding  in our Histon office, where David is the supervisor.

You can find details of their qualifications and experience by following the link to Our People here

What fees and expenses will I incur on a mortgage?

 The total costs to you of our work in connection with your mortgage will be made up of:

Our fees and most expenses are subject to VAT, currently 20%. In the information below, figures in brackets include VAT.

We will look at each of these elements in turn.

Our fees

Our fees will normally be in the range £495 (£594) to £600 (£720) and include all the work normally involved in a mortgage or re-mortgage transaction.

Our expenses

In the typical mortgage or re-mortgage transaction, we will incur expenses for:

The expenses we incur will be affected by the location of your home. Some local councils charge more than others for a local search, and the location of the property may mean that additional investigations need to be made, for example, whether a road is maintained by the council.

The total expenses will also depend on your lender’s requirements: some lenders will accept an indemnity insurance policy in place of a local search, and the insurance premium may be less that the search fee.

On a typical house mortgage, therefore, the expenses you incur (including VAT, where applicable) will be in the range £360 to £600.

There will be additional expenses incurred if you are mortgaging a leasehold apartment, which are likely to be:

For mortgaging a leasehold flat, therefore, the expenses you incur (again including VAT, where applicable) will typically be in the range £920 to £1,500.

Land Registry fees

The Land Registry’s registration fees are charged on a scale related to the amount of your mortgage, and range from £20 to £250. There is no VAT on Land Registry fees.

Is everything included in your fees?

Our fees include all the legal work normally involved in a mortgage or re-mortgage transaction. Sometimes, when we review the documents relating to the property, or read the results of our enquiries, or have full instructions from your lender, we may find that additional work is required.

Examples would be:

If a need for any additional work arises we will always tell you, and inform you what additional fees or expenses are likely to be incurred. 

How long will my mortgage take?

This largely depends on how quickly we receive the results of our searches and enquiries, to enable us to give a full report on the property to your lender. In our experience, the average transaction will take 4-8 weeks from your accepting the mortgage offer to the mortgage advance being received.

What steps are involved in a mortgage or re-mortgage?

The precise stages involved in a mortgage transaction vary slightly from one transaction to another, but the stages in a typical transaction will be: