Mortgage Conveyancing
Specialist Mortgage Conveyancing Solicitors
If you are purchasing a property, it is likely you will need a mortgage to help fund the purchase. Once you have a mortgage offer and have had an offer accepted to buy a property, your mortgage provider will want to check that there are no problems with the property or the title. They will insist on having a mortgage conveyancing solicitor deal with this.
At Hart Brown, we are on many of the mortgage lender panels so, as well as helping you with your purchase, we will also act for your lender in putting their mortgage in place on your new home. By enlisting the help of our mortgage solicitors, the lender does not have to instruct a separate solicitor, saving you both time and money. Our experts can provide independent legal advice for mortgage and remortgage conveyancing services if required (subject to being on your chosen lender’s panel).
As well as being on all the major lender panels, we also offer the following services:
- Independent legal advice (if you need to secure a loan against your home, or you co-own a home that is being used as security);
- Occupier’s consent advice (if you are an occupier of a property, but not a party to the mortgage);
- Independent legal advice for guarantors (if you are standing as guarantor, to stand in place of a borrower should the borrower default on the loan).
If you need to secure a loan against your home, or you co-own a home that is being used as security, you will need to take independent legal advice. Our mortgage conveyancing solicitors will help you understand the risks involved in this type of arrangement and make informed decisions throughout the process.
Tailored mortgage legal advice
If you are an occupier of a property, but not party to the mortgage, our mortgage solicitors can provide you with the advice you will need on whether you have an interest in the property and the effect of the mortgage on such interest. You may be required to sign a deed of consent or postponement so that the lender’s rights are ahead of yours.
Occasionally, a lender will require another person to guarantee the loan. The role of the guarantor is to stand in the place of the borrower should the borrower default on the loan. If you have agreed to act as a guarantor, our mortgage solicitors will take the time to help you understand the risks involved and the options available to you as part of our conveyancing services.
If you are loaning someone money to purchase a house, you should have a loan agreement drawn up by a solicitor. Our property experts will explain the implications of lending the money and will draft loan agreements and legal charges if appropriate.
To discuss your mortgage with one of our mortgage conveyancing specialists, please contact us on 01483 887766, email us or start a live chat today.
Our Fees
Fees:
When mortgaging your freehold or leasehold property, provided that matters proceed in the normal course, the costs that you can expect are as follows:
Our legal fees
Minimum fee: £1,554 including VAT at 20% (Freehold), £1620 including VAT at 20% (Leasehold)
Average fee: £1,620 including VAT at 20%
Our fees are calculated based upon various factors that include the value of the mortgage, the complexity of the lender’s requirements and of matters that affect the property, the desired timescale for the transaction and capacity at the time of instruction. Please contact us so that we can provide an estimate of costs tailored to your intended transaction.
You can also expect to pay the following additional costs:
Our admin fee for customer due diligence: £24 (per client) including VAT at 20%
Electronic source of funds verification (if required): £12 including VAT at 20%
Estimated local search fee: £264 including VAT at 20% **
Drainage search fee (estimated): £93 including VAT at 20% **
Environmental search fee: £94 including VAT at 20% **
Land Registry fee for copy title: £16.80 including VAT at 20%
Land Registry registration submission fee: £6 including VAT at 20%
Land Charges Registry search fee per borrower: £7.20 including VAT at 20%
Land Registry search fee: £8.40 including VAT at 20%
Any fee (usually not exceeding £30) charged by the Land Registry for a copy document referred to in your title.
Landlord’s notice fee (estimated): £180 including VAT at 20%
Land registration fee*
Our money transfer fee to repay existing mortgage: £54.00 including VAT at 20%
Our money transfer fee to remit the net balance to you: £54.00 including VAT at 20%
* These are available to view on the Land Registry website which you can access by clicking here.
** Some lenders will require us to obtain these searches and some may not. We will confirm the position during the transaction.
What work do our fees cover? To:
- Obtain and check title to the property;
- Carry out any necessary searches and check these;
- Review replies given to enquiries in connection with the property;
- For a leasehold property, review the lease, freehold title, and management information;
- Obtain an initial redemption figure if there is an existing mortgage;
- Consider our instructions from your lender and advise you on your mortgage offer;
- Set up completion and send the certificate of title to the lender;
- Obtain a firm redemption figure at the completion date;
- Prepare a completion statement and obtain any balance monies required;
- Carry out Land Registry and Land Charges Registry searches;
- Complete the re-mortgage and account to you for any balance monies;
- Redeem the existing mortgage and obtain evidence of discharge;
- Give any notice of charge required under your lease; and
- Register the mortgage at the Land Registry.
How long can you expect this to take?
The average time frame is between 3 and 5 weeks.
* Last updated November 2024
