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

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
Product fee (we call this ‘arrangement fee’)	This is charged on mortgages as part of the deal. It can be paid up-front or in some cases can be 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. It might be a flat fee or a percentage of the loan amount. Further information on the product arrangement fee is given in the Key Facts Illustration which you were given when you made your mortgage application	We will confirm the fee with you
Re-inspection 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’s 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. There may be other additional charges, for example an arrangement fee	£100
Re-valuation fee	Charged if we need to re-value your property	We will confirm the fee with you before we instruct the valuer

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. It might be paid by you or another lender.	£10
Request for legal documentation fee (we call this ‘information from your title deeds’)	Any original documents relating to your mortgage, e.g. title deeds, that you ask for. The fee will be debited to your mortgage account, although you may pay it separately if you wish	£25
Dispatching title deeds and documents	Charged for sending title deeds and documents to your conveyancer and includes the cost of postage. The fee will be debited to your mortgage account, although you may pay it separately if you wish	£45

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) Further information on the early repayment charge is given in the Key Facts Illustration which you were given when you made your mortgage application	The charge will vary according to the type of mortgage product taken
Change of term fee	Extending or reducing the remaining term of your mortgage. There maybe other additional charges, for example an arrangement fee	£40
Change of payment method fee (we call this ‘change of repayment basis’)	Transferring all or part of your mortgage from a repayment to an interest-only basis or transferring all or part of your mortgage from an interest-only basis to a repayment basis. There maybe other additional charges, for example an arrangement fee	£40
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. Additional fees may apply. These will be notified in advance	£150
Giving you a reference	Charged if another lender asks us for a mortgage reference, such as how you have managed your mortgage account with us. We will only supply this if you have given us permission	£55
Completing second charge questionnaire	Charged if another lender requests information from us (with your permission) to enable them to consider giving you a loan secured on your property or after giving you a loan secured on your property	£25
Consent to a lease on a commercial property	Our administration costs in considering lease documentation in respect of a commercial property	£150

If you are unable to pay your mortgage

These are the most common charges you may have to pay if you fail to keep up with your mortgage payments. Some charges, for example those covering unpaid/returned direct debits or cheques, occur at the early stages of your inability to pay (arrears). Other charges, for example relating to our repossession of the property, may apply later in the process and will depend on your circumstances

Unpaid/Returned Direct Debit or cheque	Payable when your bank rejects a direct debit collection, or your payment by cheque is returned unpaid by your bank	£15
Arrears fee	You may be charged an arrears fee when specific events happen in the management of your account when you are in arrears. This covers charges in respect of your account if you fall behind with your payments. 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
Instructing solicitors	Payable to cover the administration work involved each time we instruct solicitors to act in the collection of arrears of payments	£70
Sale of property in possession	Payable to cover the administration costs in connection with the sale of a property which is taken into possession	£500

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. Further information on the early repayment charge is given in the Key Facts Illustration which you were given when you made your mortgage application	The charge will vary according to the type of mortgage product taken
Mortgage exit fee (we call this ‘Redemption administration fee’)	You may have to pay this if Your mortgage term comes to an end; or You transfer the loan to another lender; or You transfer borrowing from one property to another 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. We won’t charge this fee in the last 12 months of your mortgage. The amount of the fee will depend on when you started your latest mortgage, further loan or mortgage product. We’ll tell you how much the fee will be when you ask for a redemption statement.	Up to £125

LATE PAYMENT OF MORTGAGE PAYMENTS

If your mortgage payment, or any charges are not paid in full, by the last day of the month, you'll be charged interest on these items until they are paid

ACCOUNTS IN ARREARS AND OTHER DEFAULTS

In addition to the above arrears related charges, if you are in breach of the terms of your mortgage, we may take action against you for recovery of any monies that are due but unpaid. The amount of the fees payable in such circumstances will depend on the nature and the extent of the proceedings we have to take. Borrowers will have to pay any costs we pay to third parties that we may instruct to recover any money owed to us or to create or protect our security or in using our legal rights. Examples of costs we pay may include legal fees and estate agency fees.

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.

CHANGES TO TERMS, CONDITIONS AND CHARGES

If there are significant changes to any of the terms, conditions or charges affecting your loan you will be sent written details of these changes. The charges set out in this leaflet will change from time to time. We'll tell you what our charges our will be for services not referred to in this leaflet when you us ok or when the service is offered.

Effective from 1 April 2017