Residential Property Mortgage Advice and Fees

Introduction

Our Fees Assume That:

Provided that everything goes according to plan, this transaction should be a standard one without any unexpected issues. As long as there are no unforeseen complications, the process should be completed in a timely manner. It is important that all parties involved in the transaction cooperate fully and that any necessary documentation from third parties is provided promptly, without causing any unreasonable delays.

Disbursements

Disbursements are expenses that are associated with your matter and must be paid to third parties, such as fees for Land Registry services. To facilitate a seamless process, we will take care of the disbursement payments on your behalf.

In our official quote, we will provide you with a comprehensive breakdown of all the disbursements that will be incurred. If there is a need to incur any additional disbursements during the course of your case, we will notify you in advance about the reason for the cost and the exact amount.

How long will my Mortgage Application take?

Typically, the process of obtaining a mortgage or remortgage will take anywhere from 18 to 40 days on average.

Stages of the Process

The specific steps involved in applying for a mortgage for a residential property can differ depending on the situation. However, we have outlined the essential stages of a typical transaction below:

• Advising you on joint or shared ownership.
• Sending final mortgage deed to you for signature.
  Receiving and advising on contract documents.
• Advising the mortgage offer and its conditions.
  Giving you advice on all documents and information received.
• Taking your instructions and giving you initial advice.
• Undertaking regulatory checks.
• Registering the Charge on the property.

Other Factors

There are other factors to take into account that could impact the amount of legal fees you incur:

• Mortgaging where there is a help to buy scheme, and whether it is an equity loan or ISA.
• Mortgaging property under right to buy.
• Multiple owners
• Shared ownership scheme.

Please note that the fees mentioned above are indicative and may differ from property to property. In some cases, they may exceed the ranges provided. We can provide you with a precise estimate of the fees once we have reviewed your specific documents.

It's important to be aware that ground rent and service charges are typically applicable throughout the duration of your ownership of the property. We will inform you of the ground rent and expected service charge once we have received this information.

Questions

If you have any queries regarding our services or fees, please do not hesitate to contact us via email at INFOtemplecorporate.com