Higher lending charge (HLC)

If you are borrowing more than 80% of the property’s value, we will arrange a mortgage indemnity policy. This indemnity policy protects the Society in the event of a loss experienced in the event of a repossession. The policy protects the Society and not the borrower, however, the premium is the responsibility of the mortgage borrower. From time to time the Society may make a contribution towards this payment. Please refer to your KFI for further information.