Some charges, for example those covering unpaid/returned direct debits or cheques, occur at the early stages of your inability to pay (arrears). These are the most common charges you may have to pay if you fail to keep up with your mortgage payments. This fee varies and will be a percentage of your loan amount it will be listed as part of the details of a product shown in your Illustration and offer letter. while you’re on a fixed or tracker interest rate). You switch mortgage product or lender during a special rate period (e.g.You overpay more than your mortgage terms allow.NB If you change to a new mortgage product, the ‘before your first monthly payment’ fees may also apply at this stageĮarly repayment charge (Changing your mortgage) This fee varies based on the property value and type of scheme chosen.Īccount fee (We call this Mortgage Account fee)ĭepending on your product, you may be charged a fee for creating and managing your mortgage account. Some mortgages offer free valuations – the product details for your mortgage will tell you if this is the case. 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. This is separate from any valuation or survey of the property you might want to commission. The lender’s valuation report, which is used to calculate how much it will lend you. This fee varies and will be listed as part of the details of a product shown in your Illustration and offer letter. It might be a flat fee, or a percentage of the loan 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 can be paid up-front or added to the total mortgage amount. This is charged on some mortgages as part of the deal. These are the fees and charges you may have to pay before we transfer your mortgage funds
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