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Tariff of Mortgage Fees

Below is a summary of fees that you may be required to pay in relation to your mortgages.

When looking at the fees that other firms charge, you may notice some that don’t appear in our tariff. This simply means we don’t charge you these fees.

Further information about how we deal with charges and costs can be found in the Mortgage Conditions & Explanations brochure we send with a mortgage offer.

Name of Charge
Details of chargeAmount of Charge
Fees payable on completion of your mortgage
Product feeYou may have to pay this fee before we complete on your mortgage. This will depend on the mortgage product. You can see this in the product details. With the Product Fee, you have two options:

  1. Pay at completion, where it will be deducted from the advance amount. 

  2. Add this to the total mortgage amount. If you do this, you’ll pay interest on it at the same rate as the rest of your mortgage.

This fee varies and will be listed as part of the details of a product shown in your Illustration and Mortgage Offer.
Fees payable during your mortgage
Early Repayment Charge (ERC)An ERC may be payable if:
– You repay your mortgage during a product term, such as during your fixed rate mortgage.
– You overpay more than your current preferential rate allows.
The fee will be a percentage of your current balance. Please refer to your Mortgage Offer or contact us for more details.
Returned Cheques/ Direct DebitsThis fee is payable if a cheque or direct debit is rejected by your bank.£15
Funds Release FeeIf your mortgage is released in stages, or you take out additional borrowing, we will charge this fee to cover our costs when we release each tranche of funds.£25
Change of TermThis fee is payable if you want to change the term of your mortgage.£50
Change of Repayment vehicleIf you wish to change the way you repay your mortgage, some scenarios are:

  • Switching from Interest Only to Capital Repayment
  • Switching from Capital Repayment to Interest Only
  • Changing the way you intend to repay your Interest Only mortgage, at which point we will reassess your circumstances.

We may agree to waive this fee if you are applying to convert all or part of your mortgage to a Capital Repayment Basis.

Change of BorrowerThis fee is payable if you want to remove or add a borrower to your mortgage.£100
Consent to Let Mortgaged PropertyIf you have a Residential mortgage, it is against the conditions of your mortgage to let the property. If your circumstances have changed, we may grant a temporary consent for you to let the property for up to two years. Conditions will apply and your mortgage will remain regulated by the Financial Conduct Authority.£100
Further Advance admin feeThis fee is payable if you wish to take out additional borrowing with us.£100
Completion of a Lender’s or Second Lender’s ReferenceIf your new Lender requires information from us about your mortgage, we can usually oblige, but you will need to pay a fee for this.£50
Part Release of SecurityIf you wish to release the charge on part of the security, we will consider your request on payment of this fee. We may need to instruct a revaluation of your property for which there will be a charge (please refer to our valuation fee table).£100
Closing Fee when you close your accountThis is an administration fee and is payable when you redeem your mortgage.£100
Fees payable should your mortgage fall into arrears
You must also meet other additional costs we incur. These costs may include such things as the following work, which third parties may do on our behalf:
Solicitors FeesAny fees charged by the Solicitor in connection with possession proceedings will be debited to your account.At cost
Field AgentA Field Agent is a third party who will make a visit to the property to discuss your financial circumstances on our behalf.At cost
Court FeesAny fees or other costs that may arise if court action is required regarding non-payment of your mortgage.At cost
Asset Managers costsAsset Managers are third parties who will manage the marketing and sale of a repossessed property.At cost

If you have any questions about any of the fees please contact the mortgage team.

Telephone calls may be recorded to help the Society to maintain high standards of service delivery.

Your property may be repossessed if you do not keep up repayments on your mortgage.