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.
|Valuation Fee||Charged for the cost of valuing your property, unless stated otherwise. Please see your Mortgage Illustration or our ‘Mortgage’ leaflet for further information on this fee. Other homebuyer or structural surveys are available at an additional cost.||This fee varies based on the property value|
|Product fee (we call this ‘product arrangement fee’)||Charged on some mortgages as part of the deal. It might be a flat fee or a percentage of the loan amount. Please see your Mortgage Illustration or our ‘Mortgages and Additional Loans Important Information’ leaflet 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.||This fee varies based on the mortgage product taken|
|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||Charged if we need to re-value your property, including when we re-inspect your home after work has been carried out (if your mortgage is released in stages).||£100|
|Further loan fee||Charged for the administration costs for dealing with further borrowing. This fee is normally deducted from the loan.||£100|
|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|
|Early repayment charge (changing your mortgage)||You may have to pay this if:
||This charge varies based on 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|
|Consent fee||Payable if you ask us to consent to something you wish to do with your property, such as granting an easement or option over it. The fee covers our review of documentation and administration costs.||£100|
|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|
|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|
|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 repossession of the property.|
|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 or our ‘Mortgages and Additional Loans Important Information’ leaflet for further information.||This charge varies based on 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 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.
|Property insured by the borrower||We require every mortgaged property to be insured at all times.The amount of the insurance cover must be adequate to cover the rebuilding cost of the property. If you don’t insure your property through us or you cancel the insurance we’ve arranged for you at any time, a one off fee will be payable to cover the cost of us arranging cover in the event that your property is not adequately insured. You will be responsible for ensuring that adequate insurance is taken out to cover the rebuilding cost of the property.||£25|
Effective from 1 June 2019