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Tariff of Charges - Morgages

Our Tariff of Charges fully reflects good practice principles. This same information is being used across the industry to help customers compare the fees and charges applied for services.

When looking at the fees that other firms charge, you may notice some that don’t appear in our tariff. This means we don’t charge you these fees.

The following charges apply to special services:

Fees charged before your first monthly payment

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

Name of charge

What is this charge for?

How much is the charge?

Application fee (we call this an ‘Arrangement Fee’) Assessing and processing your application (even if your application is unsuccessful or you withdraw it). Fee available on request
Funds transfer fee Funds transferred outside the Society via the CHAPS system. £25.00
Legal fee You will normally instruct a solicitor to act on your behalf in connection with your home purchase or re-mortgage transaction. You may be required to pay their legal fees and costs as part of their work on your behalf. These fees/ costs are normally charged by the solicitor directly to you unless we tell you that we will contribute to the legal costs as part of your product deal. Fee available from your solicitor
Re-inspection fee If your mortgage is released in stages and/or you’re using it to renovate your home, this covers the new valuation we need to do after the work is carried out. We may need the valuer to re-inspect on more than one occasion. This fee is per re-inspection. £75.00
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. Mortgage Application fees differ from product to product (e.g. fixed or variable rates) and will be advised on request or by reference to the Society’s current lending package. the deal. It can be paid up front or added to the total mortgage amount. If you add it to your  Fee available on request
Valuation fee The basic assessment that is carried out on a property which enables a lender to decide whether to lend on the property by assessing its condition and likely value is called a valuation report. This basic valuation report is for the Society’s benefit only. This is separate from any valuation or survey of the property you might want to commission. There are other home buyers 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. We will tell you the valuation fee which applies to your mortgage deal.

Property value:£0 - £300,000
£245.00

£300,001 - £500,000
£395.00

£500,001 +
£495.00

Stage payment fee If your mortgage is released in stages. This is a one off fee. £100.00
Higher Lending Charge The higher lending charge is applicable whenever the mortgage advance exceeds the Society’s normal lending limit of 75% of the purchase price or valuation which-ever is the lower. The charge is calculated as a percentage of the amount in excess of 75% of the purchase price or valuation. The Society may pay the charge on the customers behalf depending on the mortgage product selected.

Mortgage Advance (% Loan to Value):

75.00 - 80% 4.5%
80.01 - 85% 5.5%
85.01 - 90% 6.5%
90.01 - 95%
     

If you ask us for extra documentation and/or serviced beyond the standard management of your account.

Name of charge What is this charge for? How much is the charge?
Duplicate / Interim statement fee Requesting a copy of a previous mortgage statement or an interim statement of your account as it stands. It might be paid by you or another lender. £10.00
Request for legal documentation fee Any original documents relating to your mortgage, e.g. Title Deeds that you ask for. £50.00
Duplicate request for certificate of interest paid (for each year) fee Requesting a copy of a previously issued certificate of interest paid. £10.00
Housing Grant Letter If you obtain a grant to repair your home this fee reflects the administrative cost in confirming Title to the Northern Ireland Housing Executive (NIHE). £25.00

If you change your mortgage

If you change your mortgage

Name of charge What is this charge for? How much is the charge?
Product switch fee (we call this an 'Arrangement Fee') This is charged on some mortgages as part of a new deal (e.g. a switch from one type of mortgage product to another with the Society). 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. Fee available on request
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 variable interest rate).

The charge is normally a percentage of the amount of mortgage balance repaid.

Fee available on request
Change of repayment method fee Transferring all or part of your mortgage from a repayment to an interest only basis. £75.00
Partial release of property
fee
Payable if you want to remove part of the property or land from the mortgage. It
covers administration costs, including sealing the relevant legal deed and issuing
letters of consent.
£50.00
Change of parties
administration fee (we call
this a‘Transfer of Equity’)
Our administrative costs of adding or removing someone (a ‘party’) from the
mortgage.
£125.00
Questionnaire fee Our administration costs for completing requests for information about your
mortgage account to third parties. We will only supply this if you have given us
permission.
£75.00
Giving you a reference Charged if another lender asks us for a mortgage reference, such as how you
have managed your mortgage account with us. We will only supply this if you
have given us permission.
£75.00
Additional borrowing fee
(further advance)
Our administrative costs in processing a request for additional borrowing. £125.00
Updated valuation If a re-valuation of your property is required (usually when processing a request
for additional borrowing).
£75.00
Re-inspection fee If your mortgage is released in stages and/or you’re using it to renovate your home, this
covers the new valuation we need to do after the work is carried out. We may need the
valuer to re-inspect on more than one occasion. This fee is per re-inspection.
£75.00
Funds transfer fee Funds transferred outside the Society via the CHAPS system. £25.00

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.

Name of charge What is this charge for? How much is the charge?

Unpaid / returned direct
debit or cheque

You may be charged an arrears fee when specific events happen in the management of your account when you are in arrears.  £12.00

 

£12.00 arrears fee

This covers charges in respect of your account if you fall behind with your payments.  
Litigation fee  If your account is referred to the Society’s solicitors to instigate proceedings to recover arrears, this fee is charged on an annual basis to reflect the cost involved in Society staff monitoring the account and liaising with the solicitor. £150.00
Capitalisation of arrears In certain circumstances the Society may agree to capitalise arrears.This fee reflects the administrative cost. £50.00
Legal fees The legal fees charged by the Society’s solicitor in respect of the work required to recover arrears. This may also include legal and sale costs in the event of the sale of the property. Fee available on request

Ending your mortgage term

Name of charge What is this charge for? How much is the charge?
Early Repayment Charge
(ending your mortgage)
You may be charged this if you repay your mortgage in full before the mortgage
term ends. The charge is normally a percentage of the amount of mortgage
balance repaid.
Fee available on request
Mortgage exit fee You may have to pay this if:
• Your mortgage term comes to an end;
• You transfer the loan to another lender;
• You transfer borrowing from one property to another; or
• You repay your mortgage before the end of the scheduled term:
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.
£85.00 Deeds
Production fee
£85.00 Deeds
Sealing fee
Redemption Quotation fee The preparation of the figure required to repay your mortgage account in full. £25.00

Speak to our team today

If you have a query regarding your existing mortgage product or require information on our range of products you can call us, email us or pop into one of our 12 branches. We look forward to hearing from you.

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