Transfer of Equity Charges
Our fees cover all of the work required to complete the transfer of equity in your home, including the discharge of one mortgage, subject to the matters mentioned at the end of this section (which is not an exhaustive list) , which will involve additional fees and possibly disbursements.
If the matter requires additional work of the nature mentioned below, we will inform you of this, and what the additional costs will be, at the earliest possible time.
Transfer of Equity of a typical freehold registered house
Price bracket £ Our Charges£ VAT on Charges £ Total £
0 - 250,000 300.00 60.00 360.00
250,001 - 550,000 350.00 70.00 420.00
550,001 - 1,000,000 450.00 90.00 540.00
Other charges and payments
Electronic money transfer fee £35.00 plus VAT total £42.00 per transfer - estimated one required, if money is to pass or two if a mortgage also has to be paid off.
HM Land Registry, fees for Office copy entries of the title to the property and search fees - estimated £35.00
HM Land Registry fees for registration of title - see Land Registry scale fees at www.landregistry.data.gov.uk/fees-calculator.html.
Leasehold transaction additional fee £200.00 plus VAT and fees for notices and possibly deed of covenant - unknown these vary, please enquire of the freeholder or management company.
Unregistered land - additional fee of £200.00 plus VAT, but no office copy fees from the Land Registry, but payments for Land Registry searches of approximately £12.00 and Land Registry fees for first registration of title - please click on link above for the Land Registry fee scale.
Our fee assumes that:
a. This is a standard transaction and that no unforseen matters arise, including for example (but not limited to) a defect in title which requires remedying by completion of or the preparation of additional documents such as statutory declarations.
b. No indemnity policy is required to be arranged to overcome a defect in title.
c. Ther is no more than one mortgage to be discharged.
d. The property is not let out.
e. The property is not subject to any restrictions on its sale.
f. It is not the re-mortgage of a property.
g. It is not a transaction involving more than one legal interest in a property.
h. It is not a transaction where there are multiple owners who need to be communicated with separately.
i. It is not a transaction involving the taking out of a new mortgage.
j. There is no Islamic mortgage.
There may well also be other charges and payments associated with the above matters, such as Land Transaction Tax / Stamp Duty Land Tax, notices to ground landlrods, search fees ect., the amount of which will depend on the particular transaction and will be specifically quoted for if such matters arise.