Fees for Equity Release

Posted By: on 12th February 2019 | Category:

We offer fixed fees for this type of work for certain value properties and where there is no related work such as a transfer of equity or lease extension.

For property valued at less than £1,000,000
Freehold £700.00 plus VAT and expenses.
and £40 plus VAT file storage fee
and £40 plus VAT for each bank transfer
Leasehold £850.00 plus VAT and expenses
and £40 plus VAT file storage fee
and £40 plus VAT for each bank transfer

Please contact us for an estimate of our fee if:

  • your property is valued at more than £1,000,000
  • you need associated work such as a transfer of equity or lease extension


These are the expenses you can expect to pay:

Freehold Leasehold
£6 – Land Registry (title and plan) £6 – Land Registry (title and plan)
£3 – Land Registry (each copy document) £3 – Land Registry (each copy document)
£350 – approximately for searches and reports £350 – approximately for searches and reports
£400 – approximately for management information
£100 – approximately for notice of charge to be served on the freeholder

£ – the Land Registry application fee is based on the value of the property and please use the link to check

The list of expenses is not exhaustive and other expenses may be payable depending on factors that arise during the process of investigating the title and dealing with the lender’s requirements.

The stages and what our fee includes

Our fees are based on a mortgage or re-mortgage only for properties in the specified value band set out above and assumes the title is registered title at the Land Registry.

The conveyancing process that our work covers is:

  • we will take instructions from you, open a file and write to you with our letter of engagement and some forms to complete
  • you sign and return the letter of engagement (to confirm your instructions) and complete and return the forms to us
  • we verify your i.d.and you let us have money on account
  • we obtain a copy of the title from the Land Registry and check it
  • if you have an existing mortgage over the property, we obtain a redemption statement
  • we receive instructions and a copy of your mortgage offer from the lender’s solicitors
  • we deal with the lender’s solicitor’s requirements
  • for leasehold properties, we have to obtain management information
  • we report to you on the terms of the mortgage offer and arrange for you to come into the office to sign the mortgage deed
  • once we are ready to go, we agree a completion date with you and the lender’s solicitors
  • before completion, we obtain a redemption statement (if you have a mortgage to pay off) and provide you with a completion statement
  • we complete the mortgage and send the balance of the money to you
  • we pay off any existing mortgage
  • for leasehold cases, we serve notice of the mortgage on the freeholder
  • once the registration at the Land Registry has been completed by the lender’s solicitors, we send a copy of the up-dated title to you

What our fee does not include

Our fee is based on certain assumptions and on the basis that:

  • no associated work is required such as dealing with an unregistered title or a transfer of equity or a lease extension.
  • the matter proceeds in a simple and straight-forward manner and with the standard amount of contact with you, your broker (if any) and lender’s solicitors that we would normally expect.
  • there are no unusual complexities. Examples of complexities that may arise include discrepancies in the title or dealing with multiple titles.
  • our fees do not include dealing with occupier’s consent forms, transfers of equity, guarantees or deeds of covenants. We charge extra for these services.

If any these situations arise, we will provide you with a revised fee.

How long will it take?

Each transaction is unique and it’s hard to say with certainty how long it will take but as a guide most will take between 4-6 weeks from the time we receive details of the lender’s solicitor’s requirements.

Who will do the work for you?

It’s important to know! We have a highly regarded team of solicitors who collectively have many years experience. We aim to provide you with clear and practical advice throughout and to work to your timescale wherever possible.

Existing or returning clients

We offer existing and returning clients a 5% discount on our fixed fee and fees for associated work.

If you would like to find out more or would like to instruct us or have any queries, please get in touch conveyancing@coolebevisllp.com or call one of our offices.


Brighton Solicitors

Lanes End House,
15 Prince Albert Street,
Brighton BN1 1HY
t. +44 (0)1273 323231
f. +44 (0)1273 820350

Horsham Solicitors

14 Carfax,
West Sussex RH12 1DZ
t. +44 (0)1403 210200
f. +44 (0)1403 241275

Hove Solicitors

79 Church Road,
East Sussex BN3 2BB
t. +44 (0)1273 722532
f. +44 (0)1273 326347

Worthing Solicitors

5 The Steyne,
West Sussex BN11 3DT
t. +44 (0)1903 213511
f. +44 (0)1903 237053