Included in the service
- Ensuring the lender has a good and marketable title
- Reporting to you on the security documentation
- Discharging any existing lending
- Securing any new lending
- Registration of the security at HM Land Registry
- Registration of the security at Companies House
- Completion of the remortgage
What is excluded from the service?
- Legal advice outside the scope of the service described above
- Tax advice
- If the property is leasehold it does not include additional work in connection with the review of the head lease.
- Any property transfers needed for the property finance
- Any company work outside of finance that is required
Possible additional fees
In addition to the fixed fee above the following fees and costs may also be payable:
- Bank Transfer Fee (per transfer) – £40 plus VAT
- Electronic Identification Fee (per person) – £15 plus VAT
- Land Registry Fee – Dependent on market value
- SDLT – Dependent on market value
- Land Registry Office Copies – £30.00
- Search Fees per property approx £500 to £750 plus VAT
- Stamp Duty Filling – £95.00 plus VAT
- Winding Up Search – £22.50 plus VAT
- If the client’s company is an overseas company then a supplement of £925 plus VAT is payable
Land Registry Fees are due and will be payable based upon the purchase price.
If the buyer is a company taking lending then a Companies House fee will be payable of £23.
In all cases, bankruptcy and final searches will be due of £25.
If the premises are leasehold then notice of the transfer of the premises will need to be served on the landlord whose costs typically range from between £50 and £200. We will confirm the figure once it is known to us.
How long will it take?
Timescales vary and on average it will take 4 weeks but it depends upon a number of factors outside of our control. We will endeavour to complete the finance as quickly as possible within your timescales.
When will I pay?
You will need to pay 50% of the fixed fee on account together with the search fees. The balance of fees and disbursements will be due on completion.