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Fixed Rate
Variable Rate
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Negotiable
Negotiable - Interest will be charged at a margin above the Bank of England Base Rate or 3 Month London Interbank Offered Rate1
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Commitment Fee
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Normally 0.5% of loan value2
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Arrangement Fee
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For loans between £25,001 and £199,999
For loans of £200,000 and above
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Variable - From £925 to £2,400 according to loan amount3
Negotiable3
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Valuation costs
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Usually £2 per £1,000 of property value plus VAT but varies according
to the type of survey and value of the property
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Legal costs
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Cost of investigating title to the property and preparing the mortgage:
Transactions up to £249,999
Transactions over £250,000
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0.5% of the advance (minimum £400) plus VAT and disbursements
Negotiable - Depends on the complexity of the transaction
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Commercial leases: approval of a standard lease |
£75 plus VAT |
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Residential lettings: approval of an Assured Shorthold Tenancy Agreement
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£50 plus VAT
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Additional properties
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£100 plus VAT
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Security revision |
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Deed of postponement
Variations of collateral security
Conveyance / deed of transfer / release / exchange etc.
Commercial lease (conversion to investment loan from owner-run business) |
£75
£100 - life policies etc
£250 - property
£150
£100 plus legal fees (see above) |
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Insurance / Assurance
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Buildings insurance - non-payment of annual premium or substitution of policy
Life assurance - assignment of life policies |
£50
£50 |
Early repayment charges |
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For mortgages repaid within the first two years
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The equivalent of 6 months interest4
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For mortgages repaid within 3, 4 or 5 years
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The equivalent of 3 months interest4
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For mortgages repaid after five years
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No charge - providing 3 months notice of redemption is given
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Lump sum repayments
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No charge - providing the original security remains undisturbed
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Administration fees
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Deed release fee (payable on redemption or repayment of the mortgage)
Copy documentation (deeds/leases etc)
Second mortgage questionnaire
Letter of Consent
Audit Letter
Chaps fee
Additional and duplicate statements
Debt rescheduling
Unpaid items (cheques, direct debits etc)
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£75
£35
£50 plus VAT
£25
£30
£23
£10 per sheet
£100
£30 per item
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Arrears Fees
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For mortgages in arrears by two or more monthly repayments
Formal demand for immediate repayment of the mortgage (applicable to each party to the mortgage agreement)
Arrears visit to a borrower
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The equivalent of 1 month's interest on the original amount borrowed
£25
£50
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