MORTGAGE RATES & CHARGES

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.

Before your first monthly payment

These are the fees and charges you may have to pay before we transfer your mortgage funds

Valuation fee	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.	£25
Re-valuation fee	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.	£100

If you ask us for extra documentation and/or services beyond the standard management of your account

Duplicate/interim statement	Requesting a copy of a previous mortgage statement, or an interim statement of your account as it stands, or details of your outstanding balance at a particular date or interest paid in any 12 month period. It might be paid by you or another lender.	£10
Dispatching title deeds and documents	Charged for sending title deeds and documents to your conveyancer. The fee will be debited to your mortgage account, although you may pay it separately if you wish.	£50

If you change your mortgage

If you change to a new mortgage product, the ‘before your first monthly payment’ fees may also apply at this stage

Early repayment charge (changing your mortgage)	You may have to pay this if: 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) Please see your Illustration for further information.	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.	£50
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.	£75
Change of parties administration fee (we call this ‘transfer of equity’)	Our administration costs for adding or removing someone (a ‘party’) from the mortgage.	£100
Consent to a lease on a commercial property	Our administration costs in considering lease documentation in respect of a commercial property.	£150
Consent fee	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.	£100

If you are unable to pay your mortgage

Arrears fee	You may be charged an arrears fee when specific events happen in the management of your account when you are in arrears. We won’t charge this fee where you have an agreement to repay the arrears which you are maintaining.	£10
Management fees	These fees are charged to cover the additional time spent monitoring or managing accounts in arrears.	Up to £200 per month
Other charges may apply if you are in breach of the terms of your mortgage and will vary depending on your circumstances. These may include costs paid to third parties or solicitors we instruct for recovery of any monies that are due but unpaid, for example relating to possession of the property.

Ending your mortgage term

Early repayment charge (ending your mortgage)	You may be charged this if you repay your mortgage in full before the mortgage term ends. Please see your Mortgage Illustration for further information.	This charge varies according to the mortgage product taken
Mortgage exit fee (we call this ‘Redemption administration fee’)	You may have to pay this if You transfer the loan to another lender or pay off your mortgage in full more than 12 months before the end of your term. You may be charged a separate fee by your solicitor or licensed or qualified conveyancer for their work relating to redemption of the mortgage and discharge of the security.	Up to £125 We’ll tell you how much the fee will be when you ask for a redemption statement

SOLICITORS FEES

We will instruct a Solicitor to act for it in completion of a mortgage, any transfer of title subject to the mortgage and in some cases further loans. The Solicitor’s fees will vary and you will need to pay the fees directly to the Solicitor. Wherever possible we'll use the same Solicitor as you. In other cases we may appoint a separate firm of Solicitors to act on our behalf. In such cases our Solicitors fees will be payable by you in addition to the fees due to your own Solicitor.

Effective from 1 June 2019