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.

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.

Buildings insurance

You must have buildings insurance.

Releasing your life assurance policy

We charge £50 to release your life assurance policy to you.

Revised mortgage offer

We charge £35 to provide a new mortgage offer if you ask us to make any changes to the offer after we have made it, but before you have completed.

Electronic funds transfer fee

We charge £30 to send the loan funds to your solicitor by electronic transfer.

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.

Changing your mortgage type

We charge £50 to change your type of mortgage from repayment (of capital and interest) to interest-only. There is no charge if you want to change your type of mortgage from interest-only to repayment (of capital and interest).

Change of mortgage term

We charge £30 if you want to change the remaining term of your mortgage.

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 charge £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 name(s) 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 an extract or specific information, such as boundary responsibilities. If you need a full copy of your title deeds, there is a £25 fee.

Additional redemption statements

A redemption statement is issued free of charge upon request. Any subsequent requests within the same calendar month will incur a £20 fee.

Interest at the end of your loan

Please see your mortgage illustration, and/or offer, to find out how the interest on your loan is calculated.

Early repayment charges

If you pay off part of your mortgage, or your entire mortgage, before the end of its early repayment charge period (usually on fixed, tracker, capped, discount or cash-back mortgages), you may have to pay an early repayment charge. To find out more, ask at your local branch.

Release fee

If you repay the whole mortgage early, a release fee is applicable. Please see your original mortgage offer for details of this fee.

Contacting you if you don't repay your mortgage at the end of the term

We may charge a £28 administration fee if we have to contact you about your mortgage after the term has expired.

Unpaid Direct Debit

If a Direct Debit for your mortgage payment is returned unpaid by your bank, we’ll charge you £15.

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 charge £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 may charge a £28 administration fee if we have to contact you if you fall behind with your mortgage repayments. If you don’t keep to a special payment arrangement we have reached with you, we’ll charge a £33 administration fee for contacting you again.

Payment of Service Charge and/or Ground Rent fee

If we have to pay Ground Rent, Service Charges or Shared Ownership rent to your landlord or management company to avoid forfeiture of your lease, we will charge £50 to cover our administration costs. We will also recalculate your monthly mortgage payments to take into account the amount that has been added to your loan balance.

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

You’ll pay a fee if we have to take possession of a property. You will also have to pay the costs of securing the property such as estate agents’ fees and solicitors’ conveyancing costs.

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.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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