Our quote for the legal work on your residential property re-mortgage will be given on a fixed fee basis, subject to assumptions which are set out below. All legal fees and additional costs quoted on this page include VAT (at the current rate of 20%) where applicable.
The quote that we give you will be based on your individual circumstances and will depend on the specifics of your particular re-mortgage. It will include all of the work needed to remortgage your property whether freehold or leasehold. We will let you know if there is anything that we will need paying for in advance. Once we are ready to complete your re-mortgage we will send you a completion statement. If there is an outstanding balance to be paid on the statement this will need to be settled before we can complete your re-mortgage.
TSP legal fees for your Residential Property Re-Mortgage: Our VAT inclusive fixed fees for a typical residential property re-mortgage range from £1,097 for a simple transaction to £3,026 for a complex one. Our average fixed fee between January 2023 and June 2023 was £1,651.
We are required by law to verify our client’s identity and also a number of other types of individual such as executors for example. We will charge £10 plus VAT (£12 in total) per individual / UK Company that we check. Where a company is located overseas the charge will be £35 plus VAT (£42 in total). More information on the types of individuals we are required to check can be found in our Terms of Business.
We will charge you a VAT inclusive Bank Telegraphic Transfer fee (TT), per transfer, of £36. For a re-mortgage there will usually be at least one charge when we repay the outstanding amount on your current mortgage.
In addition to our fixed fee for the legal work you may also incur the costs shown in the table below. These additional costs are incurred by TSP when buying goods or services on your behalf. They are payable to third parties. We will pass this charge onto you, including VAT, where applicable. More detailed information on these costs can be found here and in the Glossary below.
|Additional costs involved in your property purchase||Freehold||Leasehold||Including VAT||From||To|
|Search Pack (if needed, costs shown are for a property in the Tendring District)||Yes||Yes||Yes||£320.00||£320.00|
|Land Registry Search Fee (if needed)||Yes||Yes||Yes||£3.60||£3.60|
|Bankruptcy Search Fee (per person)||Yes||Yes||Yes||£2.40||£2.40|
|Bank Transfer Fee (per transfer)||Yes||Yes||Yes||£6||£6|
|Land Registry Fee (Scale 2)||Yes||Yes||N/A||£20||£140|
|Official copies of your Registered Title||Yes||Yes||Yes||£7.20||£7.20|
|Notice of Charge Fee||N/A||Yes||Yes||£30||£180|
In our FAQ section, which you can access by clicking the yellow FAQ tab above related people and related guides below, you will find important information on
- Key stages in your residential property re-mortgage
- Key assumptions about the cost of your residential property re-mortgage
- Key exclusions from the cost of your residential property re-mortgage
- How long will your residential property re-mortgage take?
Your case will be handled by Lawyers in our Residential Property team whose details can be found in related people below. Team Leader, Richard Broadhead, supervises the work of all of the lawyers in the Residential Property Team. Please read each profile for information on their experience and contact your preferred lawyer who will provide you with a quote tailored to your particular needs.