YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

I’m in financial difficulty

We understand that circumstances change. Money worries are unpleasant and can have a big impact on your life. The sooner you get in touch, the quicker we can help you. If you’re struggling or falling behind with your payments, we are here to help.

If you like to meet with one of the team in person – just give us a call or book an appointment.

When you speak with us, if you have details about your income and expenditure to hand that will assist us greatly when assessing your situation.

There are also a number of support organisations that can help with general debt advice and money management. Their details are below:

OTHER SOURCES OF SUPPORT AND ADVICE

Money Advice Service – www.moneyadviceservice.org.uk 
Step Change – www.stepchange.org
National Debtline – www.nationaldebtline.org
Citizens Advice – www.citizensadvice.org.uk

BEFORE YOUR FIRST MONTHLY INSTALMENT
These are the fees and charges you may have to pay before we transfer your mortgage funds.
Application and Product Fees
Application FeeVariableCharged on application for assessing and processing a mortgage application. This fee is non-refundable. Please refer to your Key Facts Illustration for full details.
Product FeeVariableThis fee is charged on acceptance of the mortgage offer, unless the product terms state the fee is payable on application, as specified in the Key Facts Illustration and the mortgage offer. The fee must be paid to the Society prior to the advance monies being released. This fee is refundable if the application does not proceed.
Valuation Fees
Valuation FeeVariableCharged on application. Not refundable once the valuation has been carried out. As specified in the Key Facts Illustration and the mortgage offer. 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. Some mortgages offer free valuations – the product details for your mortgage will tell you if this is the case.
Re-valuation Fee£100.00Charged when a revaluation of your property is required.
Re-inspection Fee£55.00Charged when a re-inspection of your property is required, subsequent to the initial valuation, in order to release a further stage advance or confirm completion of a property in the course of construction or renovation.
Legal Fees
Legal FeeVariableYou will normally instruct a Solicitor to act on your behalf in connection with arranging a mortgage on a property. 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.
Higher Lending Charge
Higher Lending ChargeVariableThe higher lending charge is levied to pay for insurance that the Society may take our for its own protection in case, at some future stage, you fall significantly behind with your mortgage payments and the Society has to possess your property and sell it. The amount payable will depend on the amount of mortgage taken. The Society will contribute up to a maximum of £1,500.00. Full details can be found in the Society’s “A Guide to Mortgage Services” booklet.

Fees for Providing Information
Duplicate/Replacement Statement£10.00For each duplicate annual statement issued on request.
Copy of Title Deeds£30.00This fee covers the cost of reviewing your title deeds and providing either a full copy or extracts.
Deed of Postponement£100.00Charged when you borrow additional funds from the Society and have an existing second charge with another lender that is not being discharged. This fee covers the administration costs of executing a Deed of Postponement and associated Land Registry costs.
Leasehold Servicing Fee£50.00This fee covers the administration costs if we are notified by the Landlord or Freeholder of non-payment by you of the contractual ground rent or service changes. The Society may debit your account with all unpaid amounts plus any administration charge.
Second Charge Questionnaire£50.00This fee covers the administration costs of providing information to other lenders if you take out a secured loan on your property.

If you Change Your Mortgage
Additional Borrowing£99.00This fee covers the administration costs involved in processing an application for additional borrowing. Where a Solicitor is required to complete legal work relating to your additional borrowing, you will be responsible for their fees. If you need a revaluation, the appropriate fee will apply in addition.
Buy to Let Residential Conversion£50.00The consent of the Society is required before a mortgage and mortgaged property can be converted from a buy to let status to a residential status. This fee covers the administration costs of re-assessing affordability and amending the mortgage account.
Change of Term Fee£50.00The Society may charge a fee to cover the administration of extending the term of your mortgage.
Part Release of Property Fee£100.00Payable 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. If you need a revaluation, the appropriate fee will apply in addition.
Product Switch & End of Scheme Fee£99.00The Society may charge you a product fee to cover the administration costs involved in the restructuring of your mortgage account. If you change the terms of the mortgage during any early repayment charge period then an early repayment charge may be payable also.
Consent to Let Fee£50.00This fee covers the legal and administration costs of checking and approving a Tenancy Agreement, when you wish to let a property that has previously been used for private residential purposes. This fee is not charged in relation to mortgages operated under the Society’s Buy to Let mortgage scheme.
Electronic Bank Transfer Fee
Electronic Bank Transfer Fee£23.00This fee is applicable for any direct bank transfers made to a nominated bank account after the initial mortgage advance release has been made, should the advance monies be released in instalments.
If you are Unable to Pay Your Mortgage
Unpaid/Returned Direct Debit or Cheque£25.00You may be charged when your nominated bank rejects a direct debit collection, or your payment by cheque is returned unpaid by your bank.
Arrears Fee£25.00You may be charged an arrears fee when specific events happen in the management of your account when you are in arrears. This covers charges in respect of your account if you fall behind with your payments. If Solicitors are instructed to act for the Society in arrears cases, or others, any costs incurred will be charged to your mortgage account.
Field Agent Visit£100.00This fee covers the costs of instructing a Field Agent to visit you at your home in order to ascertain the reason for arrears, your payment proposals and assisting in the resolution of debt.
Legal Proceedings£100.00This fee covers the administration costs if we need to instruct Solicitors to commence court action to recover monies owed by you relating to your mortgage account with us. You will also be liable for the Solicitors’ fees and any other costs incurred by us.
Legal Proceedings Valuation£100.00This fee is charged if the Society requires an up to date valuation of the mortgaged property during legal proceedings. Please note the Society may use alternative valuation methods, which include the use of limited external appraisals, or use computer-based data to establish the value of the property. You will not receive a copy of the valuation report.
Repossession Fee£250.00This fee covers the administration costs if we are forced to take possession of the mortgaged property to recover monies owed by you. You will also be liable for all other costs incurred by us in obtaining possession of your property.
Ending your Mortgage Term
Mortgage Exit Fee£50.00You may have to pay this if...
  • your mortgage term comes to an end;
  • you transfer the loan to another lender; or
  • transfer borrowing from one property to another.
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.
Early Repayment ChargeVariableCharged if you repay your mortgage during the early repayment charge period, as specified in the Key Facts Illustration and the mortgage offer. Please refer to your mortgage offer for the terms and conditions applicable in respect of early repayment charges.

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Protection

Protecting your Mortgage