ABOUT ALFRED JAMES & CO
Our team has over 54 years of combined experience in delivering high quality work in all matters relating to residential conveyancing.
We have four members of the team who may work on your matter. Regardless of who works on your matter, they will be supervised by our Senior Partner.
Please take a look at Our Staff page to see further details about our Conveyancing Team.
WHY CHOOSE US?
The buying and selling of your home is probably the largest transaction that most people undertake in their lives.
We are accredited by the Law Society’s CQS Conveyancing Quality Scheme as we have the necessary skills and expertise to provide residential conveyancing advice. We will provide all the information you need to understand the process, options, costs and timescales from the outset.
We are also proud to have achieved the Specialist Quality Mark (SQM) accreditation for demonstrating that we are well managed, provide excellent levels of client care and have systems in place to ensure delivery of good quality advice.
MORTGAGES AND REMORTGAGES
AJS Fees
| REMORTGAGE | AJS Fees | |
| Option 1 | Property Sale Price
£60,000 – £300,000 |
£1,200.00
+ VAT Plus Acting for Lender fee of £150 plus vat |
| Option 2 | Properties £300,000 – £650,000 | £1,550.00
+ VAT Plus acting for lender fee of £200 plus vat |
| Option 3 | Properties £651.000 – £800,000 | £2,500
+ VAT and keep the lender fee the same. Plus Acting for Lender Fee of £250 Plus Vat |
| Option 4 | £801, 000- £1 million | £5,500
+ VAT and keep the lender fee the same. Plus Acting for Lender Fee of £300 Plus Vat |
| Option 5 | £1,000,001 – £5million | To be discussed with the firm due to the high values of the transaction |
Additional Payments to Others (Disbursements)
Land Registry Fee Varies depending on price of mortgage offer
Bank Transfer Admin Fees £35.00 per transfer + VAT
Land Registry Search £3 each
Bankruptcy Search £2 each
Office Copy Entries £3 each
Plan £3 each
Any unforeseen disbursements will be discussed with client
MORTGAGE
If only acting for mortgage lender
Alfred James Fees £135.00 + VAT
Additional Payments to Others (Disbursements)
Office Copy Entries £3 each
Plan £3 each
Any unforeseen disbursements will be discussed with client
Other Additional Fees (If applicable to your transaction which we can apply to our charges at our discretion and subject to the nature of your transaction)
- Leasehold: £100 – £300
- Telegraphic Transfer: £35 plus Vat for each transfer
- Islamic Mortgage: £180 – £360
- Second Equity Charge Redemption: £80
Referral fee (if any)
Amount of average referral fee paid £120 – £150.
This fee will vary depending on the source of the instruction.
Disbursements (third party costs)
Disbursements are costs related to your matter that are payable to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process.
- Office Copies: £20 – £95
- ID/AML Checks: £6 – £15.60 per person
- Search Indemnity: £50
- Search Pack (If required by your lender): £260 – £549
- Land Registration Search: £3
Please note the fee range will vary depending on the work required. Factors which may increase the fees charged include:
- If the property is leasehold;
- If there is a referral fee;
- If you wish for us to expedite your transaction;
- If we cannot meet you in person and will need to complete an electronic ID check;
- If you are a non-UK resident.
How long will the remortgage of my house take?
The length of time between instructing us to successfully completing the remortgage process and your new lender details being submitted to the Land Registry, will depend on a number of factors. The average process takes between 4-6 weeks.
It can be quicker or slower, depending on the nature of your individual circumstances, the timeliness of each party’s responses and returning of documents. For example, if you are remortgaging a property with a second equity redemption charge, this can increase the timeframes when corresponding with the relevant Help To Buy authority, who will have their own timeframes, to remove the charge.
Stages of the process
The precise stages involved in the remortgage of a residential property vary according to the circumstances; however below we have outlined the traditional stages we carry out on a standard remortgage.
- Take your instructions and give you initial advice;
- Obtain the Title Deeds from HM Land Registry;
- Receive your mortgage offer and report to you on this;
- Apply for searches or search indemnity (dependent on what your lender requires);
- Request an initial redemption statement from the lender;
- Send a draft completion statement for you to check;
- Report to lender and confirm you can comply with the mortgage conditions;
- Set a completion date;
- Reconfirm redemption figure;
- Transfer any remaining surplus to you;
- An application will be made to the Land Registry with the new lender’s interest.
*Our fee assumes that:
- This is a standard transaction and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction;
- The transaction is concluded in a timely manner and no unforeseen complication arise;
- All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation;
- No indemnity policies are required. Additional disbursements may apply if indemnity policies are required;
- You are referring to us directly and not through a panel or agent where referral fees may apply, these will be disclosed to you in our client care letter.
Abortive fees on all conveyancing transactions
Please note that we charge abortive fees of between £300 to £600 on each transaction
Abortive fees are when for unforeseen circumstances your transaction cannot proceed any longer after we have commenced work on the same. The level of our charge will reflect the level of the work we would have done for you on your transaction. Your conveyancing solicitor will discuss this fee with you should your matter need to be aborted.