A fair and transparent approach

Lending Pricing Information

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SERVICES

The Lending department is instructed by lenders to assist with the conveyancing matter on either a Separate Representation or Dual Representation basis. Our fees are structured centrally by the lender and these are, in most cases, available on the lender’s website and via the mortgage intermediary.

TEAM

We split our work so that specialist people work on various areas of the transaction, as well as people who are used to working alongside particular lenders. Our Onboarding team will be the first people you encounter and they will be introduced to you at the outset. The advice on the matter will always be supervised by a specialist lending solicitor and their details can be found here.

TIMING

How long will my transaction take?

How long it will take to complete your transaction will depend on a number of factors. The average process takes between 4-8 weeks for a remortgage, and 16-20 weeks for a purchase (this department does not handle sales). It can be quicker or slower depending on the requirements of the seller, chain, lender and the complexity of the matter.

COSTS

In the interests of price transparency, we will give you a fixed estimate of costs for conveyancing the outset of the transaction. The fee tables for each of our lender clients are available here.

Where your lender is not shown, then our standard Residential Conveyancing fee scales apply. These can be found here.

Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees in respect of title information or in respect of obtaining other information needed to provide to the new lender, searches and bank transfer fees. We handle the payment of the disbursements on your behalf to ensure a smoother process but may require money to be paid to us in advance from you in order to do so.

Land Registry

The Land Registry application fees vary according to the value of the property. The Land Registry website provides registration fees information at www.gov.uk/topic/land-registration/data. We will advise you what your registration fee is based on your purchase price.

Stamp Duty

The amount payable to HMRC will vary according to the purchase price of your property, who is buying the property and whether you own property already. We will advise you what your tax due is based on your purchase price and other circumstances. There is also a SDLT calculator available on the HMRC website: www.tax.service.gov.uk/calculate-stamp-duty-land-tax

FACTORS THAT MAY INCREASE YOUR COSTS

Sometimes, additional work is required that cannot be known at the outset. For example, if a lease extension is required, if alterations have been made to the property without the necessary consents, if parties do not have the necessary paperwork or funding, if indemnity insurance is required. This will impact on the time spent and overall cost. If this is the case, we will let you know as soon as we become aware of it.

We are members of The Law Society accredited Conveyancing Quality Scheme (CQS).

STAGES OF THE PROCESS: REMORTGAGE

The stages involved in your re-mortgage vary according to the circumstances. However, below are some key stages to your re-mortgage that may take place:

Writing to the existing mortgage lender to request a redemption statement (this shows how much of your current mortgage is owing)
Obtaining up to date title entries from the Land Registry, and carrying out searches
Reviewing your title and the searches
If your property is leasehold we will contact your freeholder or managing agent to tackle required queries
Review the mortgage offer, advise you on the terms and check the net mortgage advance is enough to redeem your current mortgage
Request a final redemption statement from your existing mortgage lender
Carry out searches on your title prior to completion to ensure no notices have been recorded
Request your new mortgage lender to send us monies to complete your re-mortgage
Redeem (pay off) your existing mortgage
Register the new mortgage against the title to your property.

STAGES OF THE PROCESS: PURCHASE

The stages involved in the purchase of a residential property vary according to the circumstances. However, below are some key stages to your purchase that may take place: