On Sunday 17th September, Amanda Perrins took part in a very wet Memory Walk to raise for the...
Thank you for looking at our property services. Making the decision to remortgage your home can be just as life changing as buying your first property.
A remortgage is when you either renegotiate with your current lender or change the mortgage on your property to a new lender. It is important to speak to a mortgage adviser who can go through the options with you and make sure you get the right deal for what you want to achieve.
There are many reasons you may wish to remortgage such as:
- To reduce the interest rate on your mortgage
- To fix your monthly payments and protect against possible future rate rises
- To raise money to carry out home improvements
- To raise a cash lump sum by releasing equity from your home
- Change in personal circumstances such as a marriage or divorce
- To consolidate your debts
Why Us
We have an experienced team who understand the stress involved in re-mortgaging your property, who know how the banks, building societies and mortgage lenders work. Our approach is a simple, we provide a first-class service from our expert team who make the difference by taking the stress away from you and dealing with matters on your behalf.
Good communication is key to making the remortgaging process as simple and stress-free as possible for you. Our team of highly qualified solicitors have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, while making sure everything you need to know is explained as clearly as possible.
You will have the confidence that you are our priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have. We not only want to provide that first-class service, but value for money and no hidden fees.
We are proud to hold Lexcel and CQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
Pricing
We work on a fixed fee basis, so you will know exactly how much your remortgage is going to cost from the outset.
If during the transaction there are any new development which could lead to an additional cost, we will discuss the change in fees with you at the earliest opportunity and agree a way forward.
Our fees are set out as:
VARIABLE (THRESHOLD-BASED) FEES
Professional Charges
| FREEHOLD | LEASEHOLD | ||||
|---|---|---|---|---|---|
| Band Start (£) | Band End (£) | Fee (£) | PLUS VAT | Fee (£) | PLUS VAT |
| 0 | 80000.99 | 400 | 480 | 650 | 780 |
| 80001 | 100000.99 | 450 | 540 | 700 | 840 |
| 100001 | 150000.99 | 500 | 600 | 750 | 900 |
| 150001 | 200000.99 | 550 | 660 | 800 | 960 |
| 200001 | 250000.99 | 600 | 720 | 850 | 1020 |
| 250001 | 300000.99 | 650 | 780 | 900 | 1080 |
| 300001 | 400000.99 | 700 | 840 | 950 | 1140 |
| 400001 | 500000.99 | 750 | 900 | 1000 | 1200 |
| 500001 | 600000.99 | 800 | 960 | 1050 | 1260 |
| 600001 | 700000.99 | 850 | 1020 | 1100 | 1320 |
| 700001 | 800000.99 | 900 | 1080 | 1150 | 1380 |
| 800001 | 900000.99 | 950 | 1140 | 1200 | 1440 |
| 900001 | 1000000.99 | 1000 | 1200 | 1250 | 1500 |
| 1000001 | 1200000.99 | 1050 | 1260 | 1300 | 1560 |
| 1200001 | BESPOKE |
If the remortgage includes a Transfer of Equity there will be an additional fee of £350 + £70 VAT
Expense for Electronic Client Onboarding
| Item | Fee | VAT | Subtotal | |
|---|---|---|---|---|
ID Admin Checks (per person) | £20 | £4 | £24 |
Our eCOS solution allows you to onboard you using an intuitive online interface which includes Verification of Identity (VOI), Verification of Funds (VOF) and Property Information Forms, TA6, TA7 and TA10. By using this solution not only will you enjoy a seamless onboarding process therefore enhancing your client experience, it will also assist in progressing the Conveyancing transaction much sooner.
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.
| Item | Amount | Fee | VAT | Subtotal |
|---|---|---|---|---|
| ID Check for overseas clients or donors (per person) | £24 | £4 | £24 | |
| Telegraphic Transfer Fee | Per payment | £30 | £6 | £36 |
Land Registry Fee. Submitted via the Land Register Portal and is a transfer of whole registered title (To register part of the registered title will incur higher Land Registry fees,) | £0 - £100,000 | £20 | £4 | £24 |
| £100,001 - £200,000 | £30 | £6 | £36 | |
| £200,001 - £500,000 | £40 | £8 | £48 | |
| £500,001 - £1m | £65 | £13 | £78 | |
| £1,000,001 and over | £140 | £28 | £168 | |
| Bankruptcy Search (per person) | £2.00 | £0.40 | £2.40 | |
| Land Registry Search Fee (OS1) | £3.00 | £0.60 | £3.60 | |
| Nationwide Conveyancing Search Pack which includes: Regulated authority search Offical water and drainage search Groundsure Homebuyers report (Environmental Searches including Flood Data) | £198.35 | - | £198.35 |
Exclusions
We do not undertake tax advice.
Please note that neither hpjv solicitors or the search companies will physically inspect the property and our role relates to the conveyancing on the legal title to you and reporting on the search results. We advise you to instruct a surveyor to investigate the structure and services at the property and report to you on any issues and/or identify any works required prior to you entering into a legal commitment to purchase the property.
We are not qualified to offer any advice as to the height, construction, structural, building safety or fire safety of the property or buildings and you are advised to seek advice from a surveyor qualified in this area. We are therefore not able to offer any advice on these issues so you must exercise your own due diligence and consult an appropriate professional.
Time Scales
A typical remortgage takes between 6 and 8 weeks, however it can be longer if there are any complications such as an application being rejected. The process may also take longer if you switch lenders compared with getting a new deal with your current mortgage company.
hpjv Solicitors App
We know our clients lead busy lives and would prefer to have the option to catch up on the progress of their conveyancing in their own time. With our hpjv Solicitors app, you can follow the progress of your matter with clearly defined milestones, make payments and provide ID electronically, and can correspond directly with your solicitor at a time that suits you. We pride ourselves on providing an efficient and seamless service with our clients at the heart of what we do and this app has been designed to keep you updated by providing live matter information whenever a task is completed by us, saving you unnecessary time spent on phone calls and emails.
Additional Work
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above which are based on a standard transaction.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- If you discover building regulations or planning permission has not been obtained
- If crucial documents, we have previously requested from you have not been provided to us
- If the property is a new build
- If the property is less than 10 years old
- There is more than one secured charge to redeem or register
- Funds being supplied by third parties
- Dealing with a freehold estate management company to include obtaining and reviewing their sales pack and complying with their requirements upon transfer/sale/purchase of a property.
Where there is likely to be any additional work leading to an increase of costs, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs are set out below.
| Additional Fees for freehold and leasehold | Fee + VAT (£) |
|---|---|
| Unregistered Title £200.00 | 240.00 |
| Bank Transfer Fee £30.00 | 35.00 |
| ID Admin Fee £20.00 | 24.00 |
| Purchase or sale more than one title, subject to minimum of per title £75 | 90.00 |
| Dealing with Freehold management company £200.00 | 240.00 |
| Mortgage Admin Fee (on purchases and transfers of equity) £150.00 | 180.00 |
| LTT/SDLT form admin fee £50.00 | 60.00 |
| Help to Buy ISA/Lifetime ISA (per one on purchases) £50.00 | 60.00 |
| Help to Buy Wales Ltd admin fee on purchases £200.00 | 240.00 |
| Shared Ownership schemes £200.00 | 240.00 |
| New Build Admin fee (on purchases) £200.00 | 240.00 |
| Deposit as a Gift on purchases and transfers of equity) £100.00 | 120.00 |
| Drafting a Deed of Trust £300.00 | 360.00 |
| Drafting Transfer of Part, subject to minimum of £700.00 | 840.00 |
| Drafting Statutory Declaration £100.00 | 120.00 |
| Dealing with solar panel lease on purchase/transfer £175.00 | 245.00 |
| Dealing with third party solicitors, per set £175.00 | 245.00 |
| Dealing separately with co-owner/their solicitors per party £175.00 | 245.00 |
| Fee for effecting indemnity insurance, per policy £30.00 | 35.00 |
| Dealing with removal of notices, restrictions, cautions per entry £100.00 | 120.00 |
| Purchase from a mortgagee in possession £200.00 | 240.00 |
| Dealing with retentions post completion, subject to a minimum of £50.00 | 60.00 |
Key Milestones
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:
- Taking your instructions and give initial advice based on the information you have provided
- Checking finances are in place to fund the remortgage and contacting the lender’s solicitors if needed
- Receiving and advising on contract documents
- Obtaining further planning documentation if required
- Making any necessary enquiries
- Providing advice on all documents and information received
- Advising you of the mortgage offer conditions
- Finalising contracts and sending to you for signature
- Ensuring all monies have been received from you and the lender(s)
- Completing the remortgage process
- Dealing with payment of Stamp Duty/Land Tax if applicable
- Completing and submitting an application for registration at the Land Registry as required
