Mortgage Services Tariff

Mortgage Services Tariff
Tariff of charges for our 2nd Mortgages Services
Effective 1st November 2009

Mortgage Services Tariff

This tariff gives details of the charges payable in connection with mortgage applications and additional administration following completion of your loan. You can pay these fees in advance or we can charge them to your mortgage account where they will incur interest.

Revaluation or re-inspection fee £150.00

A charge is incurred by the Company when a valuer is sent out to inspect a property to ensure that any work specified to be undertaken has been carried out, to check on progress during building / renovation or to update our records when you apply for a further loan. This is the fee charged by a valuer to prepare a report and revaluation of the property for the Company.

Conversion of Mortgage Type / Amalgamation / Splitting £75.00

This fee is charged to cover our administration costs if you ask us to partially or fully switch the repayment basis of your loan e.g. from interest only to repayment, or if you ask us to combine or split your loan into different parts. This fee is payable in addition to any product fees due.

Change to Term £75.00

If you ask us to amend the term of your mortgage, this fee is charged to cover the administration involved in considering your request, generating a new monthly payment and updating our records.

Letting Review Fee £150.00

Customers with loans agreed on an owner-occupied basis may not let out the property without our consent. This fee is charged to cover our administration costs in processing an application to let, or if we later discover that a property has been let without our consent. In addition, if the interest rate we are charging is based on the property being owner occupied, then this rate will be reviewed.

Adding or removing a customer to / from a mortgage £150.00

This fee covers our administration costs where the mortgage is being transferred into a different name (e.g. from joint names to sole names). You will also be liable for your Solicitor's costs in making the necessary amendments to the Title Deeds.

Deeds and Documents copied £25.00

This fee covers our costs in retrieving, photocopying and supplying you with copy extracts requested or obtaining up-to-date details from the Land Registry for you or your legal representative.

Same Day Payment Fee £35.00

An administrative charge incurred to cover our administration costs and bank charges when releasing cleared funds to you or your solicitor by telegraphic transfer.

Cheque or Direct Debit returned unpaid £25.00

When a cheque that you have paid into your mortgage account is returned unpaid by the bank or a direct debit we request fails when presented, this fee will be charged to your mortgage account to cover our administration work and bank charges.

Early Repayment Charge £ One Monthly Instalment

This is payable if you wish to repay your mortgage in full or in part before the time agreed. Details of any such charge will be contained in the Mortgage Terms and Conditions.

Mortgage Discharge and Sealing Fee £100.00

This fee covers our work in processing the redemption of your mortgage. It includes the calculation and issue of a redemption statement, dealing with any queries, removing our interest from any assigned policies, handling the receipt of redemption monies and sealing the mortgage deed.

Unpaid Insurance Premium / Ground Rent £75.00

In the case of leasehold properties, this fee is payable to cover our administration costs when we have to deal with requests from your landlord in respect of outstanding ground rent, service charges or insurance premiums in order to protect the security on which your mortgage is based.

Duplicate Mortgage Statement £5.00

Each year, in May, an annual statement is issued free of charge to all mortgage customers. However, if you request a duplicate of this statement we charge this fee to cover our costs in retrieving and producing the statement details again.

Interim Mortgage Statement £5.00

If you request that we produce an interim mortgage statement detailing the transactions on your mortgage since your last full mortgage statement we charge this fee to cover the administration involved in producing this information.

Certificate of Loan Interest Paid £15.00

If you request a certificate of interest paid on your mortgage account for a specific tax year, then we will charge this fee to cover our costs in calculating and preparing this information.

Copies of Personal Records £10.00

Charged for providing a copy of personal data held about you by the Company, which you may request under the Data Protection Act 1998. This includes computer processed data as well as paper records that meet the Act's criteria.

Providing Proof of Ownership £10.00

If you request that we issue you with a letter confirming proof of ownership of your mortgaged property e.g. for council grant / UK residency purposes, we will charge this fee to cover our costs in investigating our mortgage records and producing the written confirmation.

Outstanding Insurance Documentation £75.00

It is a condition of all our mortgages that you maintain adequate buildings insurance. If you arrange this yourself then you must provide us with a copy of an insurance schedule, from your insurers, noting our interest. If you fail to provide this information following our initial notification letter then we charge this fee to cover our administration costs.

Duplicated Redemption Statement requests £15.00

The Company will provide two account redemption statements free of charge during a twelve month period. If you or your Solicitor requests that we recalculate the redemption figures more frequently, then this charge will be made to cover our administration costs for each subsequent request in a twelve month period.

Subsequent Arrears letter fees £10.00

Should your account fall into arrears there is no charge for our initial notification letter. However, this fee is charged each time we subsequently write to you regarding outstanding arrears and there is no satisfactory arrangement to make repayment.

Preparation of Particulars of Claim/Witness Statement £250.00

Charged when we have to prepare the necessary particulars for a claim / witness statement.

Warrant for possession £35.00

To cover our time in preparing a warrant for possession of your property when your account is significantly in arrears and no arrangement has been made to repay them.

Taking property into possession £175.00

This fee is charged on taking possession of a mortgaged property, either as a result of an Order of the Court, voluntary surrender or where a mortgaged property has been abandoned.

Agents instruction fee for attendance at possession £175.00

For instructing a third party to attend your property when it is taken into possession.

Arrears Tariff £75.00

It is important that you contact the Company as soon as possible if you are experiencing financial difficulty, as we may be able to help you resolve any problems you have meeting your monthly mortgage repayments. If you fall behind with your payments we will contact you by letter or telephone and no charge will be made, for being in arrears, if a satisfactory arrangement is entered into. However, failure to maintain the arrangements will result in your account being placed for Legal Recovery and the following charges may be made and added to your mortgage.

Arrangement of eviction appointment £35.00

For arranging an eviction.

Administering an account in possession £100.00

When a repossessed property is sold by the Company and a net surplus remains, a charge will be made to cover the cost of administration.

Capitalisation of Arrears £75.00

If, following a period when your account has been in arrears, you maintain the agreed arrangement for at least six months, the Company may consent to capitalise the outstanding arrears. This means that you would pay the missed payments over the remaining term of the mortgage. This charge covers our administration in making the necessary arrangements.

Address Confirmation £75.00

This fee is charged where it is necessary for the Company to instruct an agent to trace your current whereabouts.

Home Visit Fee £75.00

Charged when a representative visits you at your home to discuss your financial situation and proposals for arranging to pay outstanding amounts.

Home Visit Non Attendance Fee £75.00

Charged when you are not at home and a home visit was arranged, or when you cancel a scheduled home visit within 2 working days of the date arranged.

Legal Charges

If your account is seriously in arrears, and you have made no satisfactory arrangement to repay them, the Company incurs additional costs in making the necessary legal arrangements to reclaim the property. The following charges may be charged to your mortgage in this instance.

• Arrangement of court hearing
• Adjournment of hearing
• Witness statement and court hearing
• Application for possession warrant
• Conveyancing fee for sale
• Issue of summons for possession
• Non standard letter
• Notice to occupiers
• Pre-action letter
• Re-instatement of hearing
• Re-issue of warrant
• Reply to application to suspend warrant
• Reply to defence/special witness statement
• Supplemental Witness Statement
• Arrangement of eviction appointment
• All Legal Costs
• Disbursements
  Examples of such costs are as follows:
• Court fee for interim application
• Court fee for summons for possession
• Court fee for warrant for possession
• Miscellaneous search fees
• Miscellaneous sales expenses
  (e.g. agents fees, clearance fee)
• Miscellaneous agents fees
  (e.g. to attend hearing)

Third Party Costs

Where third party costs are incurred in relation to gaining possession of your property, which may also include some of the above items, these costs will also be charged to your mortgage.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.