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Mortgage Fees & Charges
New Application Fees
These are fees and charges that may be payable in connection with a new mortgage.
Application Fee for a New Advance
This fee is charged to cover some of our administration costs in considering and processing an application for a new advance. Please see individual mortgage product guides.
Varies
Scheme Fee
This fee is charged to secure the discounted or fixed rate of interest on the scheme you have chosen to take your mortgage. Please see individual mortgage product guides.
Varies
Legal Fees
Legal fees cannot be added to the mortgage. You need to appoint a Conveyancer to complete the legal aspects of property transactions. The cost will vary and is typically paid directly to the conveyancer. Your chosen conveyancer will confirm the cost.
Varies
Valuation Fee (minimum charge)
A valuation is carried out by the lender to assess the suitability of the property for a mortgage. The cost will vary depending on the property purchase price and type of survey carried out. This fee is typically paid up front and is non refundable. For valuation costs, please see our valuation fee page here.
Varies
Release of Funds Fee
This fee covers the administration costs of sending money electronically to yours, or your solicitor’s bank account, where the funds need to be available (cleared) on the same working day.
£25
Changes to Your Mortgage Fees
These are fees and charges that may be payable in connection with any changes to your mortgage after it has completed.
Scheme Transfer Fee
This fee may be charged to cover our costs when you request a transfer to a new discounted or fixed rate of interest for your mortgage. Please see individual mortgage product guides.
£50
Early Repayment Charge (ERC)
If you repay your mortgage in full or make a lump sum overpayment an early repayment charge may be payable. Details of any such charge will be contained in the Mortgage illustration, Offer document you received from us when taking out your mortgage or in the individual mortgage product guide.
Varies
Further Advance Application Fee (inclusive of any account changes)
This fee is charged to cover some of our administration costs in considering and processing an application for a further advance on an existing mortgage. Please see individual mortgage product guides.
£130
Application Fee for Buy To Let or Residential Conversion (inclusive of any account changes)
This fee is charged to cover some of our administration costs in considering and processing an application to either convert a mortgage from a buy to let to a residential status or a residential to a buy to let status. This fee covers the administration costs of re-assessing affordability and amending the mortgage account.
£130
Porting Application Fee (inclusive of any account changes)
This fee is charged to cover some of our administration costs in considering and processing an application to port your existing mortgage to a new property.
£130
Variation to Mortgage Contract (Term and/or Repayment Method)
This fee covers the administration costs in transferring your mortgage account, or part of it, from repayment to Interest-Only or vice versa and/or assessing and amending the term on your mortgage account.
£40
Transfer of Equity/Change of Borrower (inclusive of any account changes)
This fee covers the administration costs of adding or removing someone (a “party”) to / from the mortgage e.g. from joint to sole name and vice versa. This fee does not include any legal costs associated with the transaction and you will be also be liable for Solicitor’s costs in making the necessary amendments to the title deeds.
£130
Consent to Let Fee
This fee covers the administration costs if you apply to rent out your property on a short-term basis.
£50
Post Completion Security Variation
This fee covers the administration costs to check that there is adequate security remaining before agreeing to vary our security and for sealing the relevant deed or issuing a letter of consent in respect of the variation.
£75
Additional Documentation or Information Fees
These are fees and charges that may be payable in connection with any requests for extra documentation or services outside the standard administration of your account.
Duplicate Statement or Mortgage Account Breakdown
This fee is charged if you request a duplicate copy of your annual mortgage statement or you request a detailed breakdown of your account. This fee covers the administration costs of retrieving and producing the statement details again or completing the detailed analysis of your mortgage account.
£10
Consent to a Second or Subsequent Charge
If you wish to borrow money from another lender and secure it against a property in mortgage to the Society, and are not intending to repay your mortgage with the Society, then you require our consent and we charge this fee to cover the administration work required to review your account.
£35
Payment of Unpaid Ground Rent/Service Charge
This fee is payable when the Society has to communicate with you and your landlord regarding outstanding ground rent or service charges in order to protect the security on which the loan is based. The fee is debited to the mortgage account together with the amount of unpaid rent or service charge where this is paid by the Society. This fee will also be payable if the landlord or freeholder alleges other breaches of the lease in respect of which the Society needs to take steps to protect its security.
£40
Ending Your Mortgage Fees
These are fees and charges that may be payable when your mortgage term comes to an end or you transfer to another lender
Mortgage Exit Administration Fee
This fee covers the administration costs of processing the redemption of your mortgage, of releasing the Society’s charge over a property when the mortgage is repaid and registering the discharge with the Land Registry.
£75
Early Repayment Charge (ERC)
If you repay your mortgage in full or make a lump sum overpayment an early repayment charge may be payable. Details of any such charge will be contained in the Mortgage illustration, Offer document you received from us when taking out your mortgage or in the individual mortgage product guide.
Varies
Arrears and Payment Difficulty Fees
These are fees and charges that may be payable in the unfortunate event that you are unable to maintain your mortgage payments.
Possession Charges – Legal and Third Party Costs
If your account has a serious payment shortfall and no agreement has been reached with the Society costs may be incurred by you and applied to your mortgage account. Third party costs may include but are not exclusive to; legal fees in relation to repossession proceedings, third party costs for the selling and management of the property up to the point of sale, reasonable costs incurred by the Society’s staff to attend court proceedings. The Society will provide its current charges to the borrower prior to legal action commencing.
Varies
Unpaid/Returned Direct Debit or Cheque Fee
This fee is charged when your nominated bank rejects a direct debit collection or your payment by cheque is returned unpaid.
£12
Solicitor's Letter (pre-litigation) Fee
This fee will be charged when a letter is issued by a Solicitor instructed to act for the Society in respect of arrears before formal action is taken.
£35 (Plus VAT)