| THE SELLING PROCESS | THE BUYING PROCESS | THE REMORTGAGE PROCESS |
|---|---|---|
| All information and fees stated on this page are for guidance purposes only. Click a heading above for details. | ||
Decision to sell or move
Estate agent instructed
HIP (Home Information Pack) obtained
Property goes on market
Sale price agreed
Exchange of contracts
(you are now legally obliged to purchase)
Legal completion - due fees outlined below
Estate agent fees due - typically 1%-2% of sale price
Lender exit fee due if property was mortgaged - typically £100-£400
Lender early repayment charges due if applicable - typically 1%-5% of outstanding balance
View properties to buy
Purchase price agreed
First broker meeting - Factfind
Instruct solicitor
Second broker meeting - KFI and recommendation
Decision in principal submitted to lender
Full application submitted to lender (booking fee may be payable - typically £100-£500)
Lender valuation fee due - typically £200 minimum
Valuation performed and report submitted to lender
Lender issues formal offer of mortgage
Solicitor carries out searches and legal matters (a deposit may be requested)
Exchange of contracts (you are now legally obliged to purchase)
Your deposit funds transferred to solicitor
Legal completion - due fees outlined below
Solicitor legal fee and disbursements - typically £750 minimum
Stamp duty - see HMRC site
Broker - JAM Mortgages does not charge a fee
Lender arrangement - typically £500 to £1500
First broker meeting - Factfind
Instruct solicitor
Second broker meeting - KFI and recommendation
Decision in principal submitted to lender
Full application submitted to lender (booking fee may be payable - typically £100-£500)
Lender valuation fee due - typically £200 minimum
Valuation performed and report submitted to lender
Lender issues formal offer of mortgage
Solicitor carries out searches and legal matters (a deposit may be requested at this point)
Legal completion (transfer or mortgage to new lender) - due fees outlined below
Solicitor fees due - typically £750 minimum
Stamp duty due - see HMRC site
Broker fees due - JAM Mortgages does not charge a fee
Lender arrangement fee due - typically £500 to £1500
Original lender exit fee due - typically £100-£400
Lender early repayment charges due if applicable - typically 1%-5% of outstanding balance