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Costs and Service Information - Mortgage or remortgage of a residential property

Prices

Our costs information is set out generally below. For a quote relevant to your exact mortgage or remortgage details, please click here: 

 


Please note that there will be two elements to the costs information set out below: 

  1. Fees charged by Pabla + Pabla Solicitors. These are charged on the basis of fixed fees; and
  2. Fees payable to third parties

Please ensure that you consider both parts of the costs information.

 

Fees charged by Pabla + Pabla Solicitors 

New mortgage value

Legal fee

VAT (20%)

Total fee

£0.00 - £149,999.99

£350.00

£70.00

£420.00

£150,000.00 - £349,999.99

£400.00

£80.00

£480.00

£350,000.00 - £499,999.99

£450.00

£90.00

£540.00

£500,000.00 +

£500.00

£100.00

£600.00

 
Please also add the following costs to the applicable fee listed in the table above to your remortgage:
 
Telegraphic Transfer fee - £20.00 + VAT = £24.00
Electronic submission fee (incl. ID check and Land Registry submissions) - £15.00 + VAT = £18.00

 

Fees payable to third parties (‘Disbursements’) 

Description of Disbursement

Fee

VAT (20%)

Total fee

Search fees (if required by your lender)*

£140.00

Included

£140.00

Land Registry Fee **

Dependent on property value and property type. Please visit https://www.gov.uk/guidance/hm-land-registry-registration-services-fees to calculate your fee. **


*
       The number and nature of searches that you will require may vary depending on the property and/or any mortgage lender.

**     We will be able to confirm your exact fee once we have specific information about your mortgage/ remortgage. 

 

Work included and key stages 

The precise work and stages involved in the mortgage or remortgage of a residential property vary according to the circumstances. However, we have set out the key stages involved in a typical mortgage/ remortgage transaction: 

  • Take your instructions and give you initial advice.
  • Obtaining your title deeds.
  • Checking the title of your property.
  • Carrying out a Local Authority search if required by your lender.
  • Acting on your mortgage lender’s instructions.
  • Explaining the terms of your mortgage to you.
  • Preparing the mortgage and other documents and obtaining your signature to them where appropriate.
  • Reporting to the mortgage company and obtaining the mortgage advance.
  • Completing the remortgage. This is the date when the old mortgage will be repaid and the new mortgage will commence.
  • Registering the transaction with the Land Registry.
  • Forwarding the title documents to the mortgage company and accounting to you for any money held on your behalf.
     

Services excluded 

Our service will not include any of the following: 

  • Advice on the value of the property.
  • Advice on the suitability of your mortgage or any other financial arrangements.
  • A physical inspection of the property.
  • Advice on any search result findings that identify contaminated land, fracking sites or other environmental issues.
  • Advice on tax (other than SDLT) or other accounting matters.

Approximate/ average timescales 

The length of time that it will take to complete your mortgage or remortgage will depend on a number of factors. However, the average process takes between 3 – 4weeks. 

It can be quicker or slower depending on the parties in the chain and the efficiency of third parties involved in the mortgage or remortgage such as your lender, search providers and the relevant local authority to conduct your local search if required. 

 

Factors that could increase costs 

In some circumstances we may increase our fees to account for additional time, work or skill required to meet your instructions. Examples include: 

  • If your lender makes detailed instructions requiring us to deal with matters other than those relating to the title to the property.
  • If your lender instructs another conveyancer to act for them.
  • If the lender requires anything other than a simple certificate of title (a simple certificate of title is standard with most lenders) in order to send the mortgage funds to our firm.
  • If a trust document is required.
  • If there is a defect in the property title which requires remedying prior to completion.
  • If there are any other complexities to your remortgage. 

 

Qualifications and experience of our conveyancing solicitor       

 You can find out about our conveyancing solicitor’s experience and qualification here: Meet our Experts - Colin Bethell

All work carried out in this department is supervised by Kiran Pabla who is a Senior Partner and Solicitor at Pabla + Pabla Solicitors.

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