Fees and charges
To make it easier to manage your money when it comes to your mortgage, it is important to be aware of any fees and charges. Read on to find out more.
Arrangement fee
Some of our mortgages have an arrangement fee. If you choose a mortgage that incurs an arrangement fee, we will let you know before you apply.
Product switch
We charge £35 (to cover our costs) to provide a new mortgage offer if you ask to make any changes to the mortgage after we have made the offer, but before you have completed it.
Electronic funds transfer fee
We charge £30 to send the loan funds to your solicitor by electronic transfer.
Buildings insurance
You must have buildings insurance. We charge £25 to cover administration if you decide not to arrange your insurance through us.
Renting out a property
We charge £100 to consider an application for renting out your property. If we agree, you will need to pay an annual premium of £400 (non-refundable) from the start date of the letting period. The premium will be charged every year until you let us know that you have reoccupied your property.
Releasing your life assurance policy
We charge £50 to release your life assurance policy to you.
Changing your mortgage type
We charge £50 for changing your mortgage type, for example from interest-only to repayment.
Change of mortgage term
If you want to change the remaining term of your mortgage we charge a fee of £30.
Duplicate mortgage statement
Every January we send a statement to all our mortgage customers free of charge. We charge £20 for each duplicate you request.
References for second charges
We have a fee of £75 for providing a second charge reference to another lender. A second charge is where your main mortgage is with us, and you take out an extra loan secured on your property from another lender.
References to other lenders
We charge £75 for providing a reference about your mortgage account to another lender. It is a good idea to speak to one of our expert mortgage advisers first before applying for a new mortgage with another lender.
Sale of part of the security
If you would like to sell part of your mortgage security (usually part of your land), we need to check that there will still be enough security to cover your mortgage after the sale. We charge £100 to consider your application.
Transfer of title
We charge £145 to change the names your mortgage is held in, for example to add a partner’s name. You’ll also need a solicitor so it’s important to check their charges too.
Providing information from your title deeds
We charge £15 to search for and supply extract or specific information such as boundary responsibilities. If you need a full copy of your title deeds, there is a £25 fee.
Sending your deeds to your solicitor
We charge £45 for taking your deeds out of storage and sending them to your solicitor. We don’t charge this fee when you repay your mortgage in full.
Additional redemption statements
£20 per statement.
Interest at the end of your loan
Please see your mortgage illustration and/or offer to find out how interest on your loan is worked out.
Early repayment charges
If you pay off part or your entire mortgage before the end of its early repayment charge period (usually on fixed, tracker, capped, discount or cash-back mortgages), you will pay an early repayment charge. Ask at your local branch to find out more.
Unpaid Direct Debit
We charge £15 if your mortgage payment direct debit is returned unpaid by your bank. We may present a Direct Debit again – if it’s unpaid, a further charge will be incurred.
Unpaid cheques
We charge £15 if you pay a cheque into your mortgage account and your bank returns it unpaid.
Home improvement loan application fee
We have a fee of £165 to consider an application to borrow more money secured against your home for home improvements.
Personal secured loan application fee
If you would like to borrow more money secured against your home for personal reasons (such as buying a car or paying for a holiday), you will need to pay a £165 fee to cover our costs in considering your application.
Getting in touch if you fall behind with your mortgage repayments
We charge a £28 administration fee every time we contact you if you fall behind with your mortgage repayments. If you make special payment arrangements and stick to them, we will stop making this charge. If you break the agreement, we will charge £33 for contacting you again. Further charges may apply depending on our actions.
Financial counselling
We charge up to £100 for an independent financial counsellor to visit you at home to talk through your mortgage and other debt repayments. The counsellor can also advise on special payment arrangements to repay or prevent a payment shortfall.
Legal action for possession of a property
We charge £85 to obtain information and prepare to issue a county court claim for possession of a property. There will be further charges to obtain and enforce an Order for Possession. You will also need to pay our solicitor’s costs and court fees.
Taking possession of a property
We charge £300 to cover our costs in taking possession of a property. You will have to pay the costs of securing and selling the property such as estate agents’ fees and solicitors’ conveyancing costs.
Notes to fees and charges
These charges are subject to change. If you have a mortgage with us and we introduce new charges, increase existing charges or change to your disadvantage the way you pay charges, we will tell you at least 14 days before the change takes place. This will be by letter, personal notice, and general notice in our branches and head office, together with press advertisements. See our fees and charges leaflet to find out more.