Our tariff of charges fully reflects the good practice principles, which are being used across the industry to help customers compare mortgages.
When looking at the fees that other firms charge, you may notice some that don’t appear in our tariff (below). This means we don’t charge you these fees.
||Charges for the cost of valuing your property, unless stated otherwise. Please see your Illustration for further information on this fee. Other homebuyer or structural surveys available at an additional cost.
||This fee varies based on the property value.
|Product fee (we call this ‘arrangement fee’)
||Charged on mortgages as part of the deal. It might be a flat fee or a percentage of the loan amount. Please see your Illustration for further information. It can be paid up-front or added to the total mortgage amount. If you add it to your mortgage, you’ll pay interest on it at the same rate as the rest of your borrowing.
||We will confirm the fee with you
|Funds transfer fee (we call this ‘release of funds fee’)
||Electronically transferring the mortgage funds to you or your solicitor. This fee is normally deducted from the loan.
||If your mortgage is released in stages and you are using it for renovations, this covers the new valuation we need to do after the work has been carried out.
||We will confirm the fee with you before we instruct the valuer
|Further loan fee
||Charged for the administration costs for dealing with further borrowing. This fee is normally deducted from the loan.
|Early repayment charge (changing your mortgage)
||You may have to pay this if:
Please see your Illustration for further information.
- you overpay more than your mortgage terms allow or;
- you switch mortgage product or lender during a special rate period (e.g. while you’re on a fixed or tracker interest rate)
|This charge varies according to the mortgage product taken
|Change of term/ payment method fee
||Extending or reducing the remaining term of your mortgage or transferring all or part of your mortgage from a repayment to an interest-only basis or vice versa.
|Partial release of property fee (we call this ‘release of security’)
||Payable if you want to remove part of the property or land from the mortgage. It covers administration costs, including sealing the relevant legal deed and issuing of consent. We may also request an up to date valuation of the property before we can consider a release of security - see re-valuation fee. There maybe other additional charges, for example an arrangement fee.
|Change of parties administration fee (we call this ‘transfer of equity’)
||Our administration costs for adding or removing someone (a ‘party’) from the mortgage.
|Consent to a lease on a commercial property
||Our administration costs in considering lease documentation in respect of a commercial property.
||Payable if you ask us to consent to something you wish to do to your property, such as granting and easement or option over it. The fee covers our review of documentation and administration costs.