Tariff of mortgage charges

Before your first monthly payment

These are the fees and charges you may have to pay before we transfer your mortgage funds

Product fee

This is charged on some mortgages as part of the deal. 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. It might be a flat fee, or a percentage of the loan amount.

This fee varies and will be listed as part of the details of a product shown in your Illustration and offer letter.

Before your first monthly payment

Re-inspection fee (We call this Property re-inspection fee)

If your mortgage loan is released in stages and you’re using it to renovate your home, this covers the new valuation we need to do after the work’s carried out. We may also charge this fee where a re-inspection of the property is necessary after the initial valuation is carried out for example, when we are asked to release money that we have held back.

£70 per inspection

Before your first monthly payment

Valuation fee

The lender’s valuation report, which is used to calculate how much it will lend you. This is separate from any property valuation or survey of the property you might want to commission.

There are other homebuyers or structural survey options available to you at a cost and there may be different approaches in different parts of the UK.

Some mortgages offer free valuations – the product details for your mortgage will tell you if this is the case.

From £100. This fee varies based on the property value and type of scheme you chose.

View our Valuation Fees

Before your first monthly payment

Account fee (We call this Mortgage Account fee)

Depending on your product, you may be charged a fee for creating and managing your mortgage account.

£295

If you change your mortgage

NB If you change to a new mortgage product , the ‘before your first monthly payment’ fees may also apply at this stage

Revaluation fee for additional borrowing

This fee may be payable where you have applied for additional borrowing. It covers the cost of obtaining a valuation of your property where we need to and involves an internal inspection.

Dependent on property value.

View our Valuation Fees

If you change your mortgage

Partial release of property fee (We call this Property re-inspection fee)

Payable if you want to remove part of the property or land from the mortgage. It covers the new valuation we need to do for the release of land.

£70 per inspection

If you change your mortgage

Early repayment charge (changing your mortgage)

You may have to pay this if:

• You overpay more than your mortgage terms allow;
• You switch mortgage product or lender during a special rate period (e.g. while you’re on a fixed or tracker interest rate).

The fee will be a percentage of the loan amount. Please refer to your Illustration or offer letter for full details.

If you are unable to pay your mortgage
These are the most common charges you may have to pay if you fail to keep up with your mortgage payments.
Some charges, for example those covering unpaid/returned direct debits or cheques, occur at the early stages of your inability to pay (arrears).
Other charges, for example, relating to our repossession of the property, may apply later in the process and will be dependent on your circumstances.

Arrears fee (We call this Arrears management fee)

You may be charged a fee if you fall behind with your payments and your account is in arrears.

£35

If you are unable to pay your mortgage

Litigation management fee

If we instruct solicitors to collect arrears or seek possession.

£100

Ending your mortgage term

Early repayment charge (ending your mortgage)

You may be charged this if you repay your mortgage in full before the mortgage term ends.

The fee will be a percentage of the loan amount. Please refer to your Illustration or offer letter for full details.

Ending your mortgage term

Mortgage exit fee (We call this Repayment Administration fee)

You may have to pay this if:

• Your mortgage term comes to an end;
• You transfer the loan to another lender; or
• Transfer borrowing from one property to another.

This is payable either at the end of the mortgage term, or before the end of your mortgage term if you transfer the loan to another lender or another property (known as ‘redemption’).

You may be charged a separate fee by your solicitor or licensed or qualified conveyancer for their work relating to redemption of the mortgage and discharge of the security.

The Repayment Administration fee was withdrawn for customers applying for a mortgage from 31st July 2007. If a Repayment Administration fee applies to your mortgage, the amount of the fee will be shown in your Annual Mortgage Statement. It will also be shown on any Amount Owing Statement we issue. The fee is charged when your account is closed.

Up to £50 - See your Annual Mortgage Statement for details.