If it is necessary for us to provide a service that is in addition to the normal level of administration, a charge will be made. Charges are based on an assessment of the work required to provide the service.

Mortgage services charges

Application for Transfer of Equity £125

This charge is made if you ask us to consider changes to the ownership of the mortgaged property.

Release of Part Security £100

This charge is made if you ask us to consider a release of part of the mortgaged property from the security for the loan.

Release/Surrender of an Endowment Policy £50

This charge is made if you ask us to release and/or surrender an endowment policy which forms part of the security for the loan.

Deed of Variation, Rectification, Easement, Restrictive Covenants or Option Agreements £100

This charge is made if you ask us to consent to any proposal for a deed of variation, rectification, easement, restrictive covenant or option agreement which will affect the mortgaged property.

Lease Extensions, Freehold Purchase or Deed of Substituted Security £125

This charge is made if you ask us to consent to any proposal for a lease extension or your purchase of the freehold of the mortgaged property. This will often involve completion of a Deed of Substituted Security to preserve our security.

Consent to Letting £50

This charge is made if you ask us to consent to a letting of the mortgaged property as required by the terms and conditions of the mortgage.

Converting to/from a Flexible Mortgage £100

This charge is made if you ask us to convert your mortgage to or from a ‘Flexible’ mortgage which may be possible subject to the satisfaction of certain criteria.

Change of Mortgage Repayment Method and/or Term £50

This charge is made if you ask us to change your mortgage repayment method from ‘Repayment’ to ‘Interest Only’ or vice versa and/or if you ask us to extend or shorten the period over which the mortgage is to be repaid.

Insurance Administration Fee £25

This fee is charged if you transfer your Society arranged buildings insurance to another insurer or if we have to ask you to provide details of the buildings insurance you have arranged. The fee will be charged for each letter we have to write.

Repeated Redemption Statement Requests £25

This fee is charged for providing a third or subsequent redemption statement during any rolling 12 month period.

Discharge Fee £130

This charge is made on the repayment of the loan and covers the work involved in redeeming the mortgage and releasing our security at the Land Registry.

Mortgage Questionnaires £80

This charge is made whenever we are required to complete a questionnaire about the conduct and/or structure of your mortgage account. The requests, which must be accompanied by your consent to release the information, are submitted by lenders who are looking to lend you further monies secured on the mortgaged property. They are also submitted by Brokers acting on your behalf. The fee covers the administration associated with the completion of the questionnaire, preparing a list of payments if requested, the granting of consent and/or our formal response when a lender takes a second/subsequent mortgage over the mortgaged property.

Payment of Leasehold Charges £80

Leasehold property owners are obliged to pay a variety of charges under the lease including rent, service charges and buildings insurance. If you fail to make those payments we may pay them to protect our security. We will debit the mortgage account and we will also make this charge for the administration involved.

Telegraphic Transfer Fee £25

This charge is made whenever we send funds, on your behalf, by electronic means.

Returned Payment Fee £30

This charge is made whenever we have to deal with any mortgage payment that is returned unpaid.

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Arrears & Collections Charges

Arrears Notification Letter £25

If your mortgage falls into arrears, we will write to advise you of the exact amount needed to restore your account to order. If the outstanding arrears are not addressed the fee will also be charged for each subsequent Arrears Notification Letter issued to you.

Broken Arrangement Fee £25

When an account falls into arrears, we will contact you in order to agree how the account is to be brought up to date. If that arrangement is subsequently broken, this charge will be made.

Arrears Interview Fee £100

This fee is charged if your mortgage is in arrears and we agree to arrange an arrears interview to discuss possible options for returning the account to order.

Property Report £60

This charge is made when we have to assess the condition and occupation of your property by means of a visual inspection for any purpose under the Terms and Conditions of your mortgage.

Arrears Breakdown £40

This charge is made when you ask us to provide a breakdown showing how the arrears balance has arisen.

Account referred to Legal Advisers £65

This charge is made if the account has to be referred to our legal advisers to issue possession proceedings because of a serious arrears position. The charge goes towards meeting the costs involved in providing the legal advisers with the detailed information needed to prepare the court proceedings and to request any subsequent warrant for possession.

Cancellation of Eviction £50

This charge is made when an eviction is cancelled as a result of the outstanding arrears being paid or reduced to an acceptable level or an eviction appointment is suspended by the court.

Administration of Property in Possession £300

If your property is repossessed, this charge is made to cover the costs of managing the property until it is sold.

Legal fees

If our legal advisers are instructed to take legal action to repossess the property due to a serious arrears position, additional legal fees will be incurred. Our legal advisers will provide details of those fees at the outset of any legal action.

ADDITIONAL INTEREST WILL BE CHARGED IF THE MONTHLY MORTGAGE PAYMENTS ARE NOT RECEIVED IN THE MONTH IN WHICH THEY FALL DUE.

OTHER FEES MAY BE CHARGED FOR ADDITIONAL SERVICES NOT DETAILED ABOVE. WE WILL INFORM YOU OF THE FEE AT THE TIME YOUR REQUEST IS MADE.