Mortgage Terms & Conditions
We recommend you review the Society's Terms and Conditions prior to completing a mortgage application.
Percentage of Advance
The Society will usually lend up to 85% of the purchase price or valuation, whichever is the lower.
Type of Property
The Society will normally lend on standard construction houses,
bungalows and leasehold flats (the unexpired term on the lease at the
expiry of the mortgage must be at least 25 years). If the property has
any evidence of past or present structural defects, movement or
subsidence it is unlikely an advance will be considered for more than
75% of the purchase price or valuation.
Valuation Scale
Standard valuation and Home Buyers Report fees are initially based upon
the purchase price or current market value of the property.
| Estimated Value of the Property | Basic Building Society Valuation Fee | Homebuyers Report Fee* |
| £0,000 - £50,000 | £152 | £295 |
| £50,001 - £100,000 | £173 | £357 |
| £100,001 - £150,000 | £203 | £387 |
| £150,001 - £200,000
| £234 | £438 |
| £200,001 - £250,000
| £265 | £489 |
| £250,001 - £300,000
| £295 | £540 |
| £300,001 - £350,000
| £326 | £591 |
| £350,001 - £400,000 | £357 | £643 |
| £400,001 - £450,000 | £387 | £694 |
| £450,001 - £500,000 | £423 | £755 |
| £500,001 - £600,000 | £500 | £908 |
| £600,001 - £700,000 | £576 | £1051 |
| £700,001 - £800,000 | £648 | £1184 |
| £800,001 - £900,000 | £724 | £1337 |
| £900,001 - £1,000,000
| £801 | £1480 |
| £1,000,001 - £1,200,000 | £954 | £1766 |
| £1,200,001 - £1,400,000 | £1107 | £2052 |
| £1,400,001 - £1,600,000 | £1260 | £2338 |
| £1,600,001 - £1,800,000 | £1414 | £2624 |
| £1,800,001 - £2,000,000 | £1567 | £2910 |
*Includes a Basic Building Society Valuation.
Valuation Fees are initially based upon the purchase
price or current market value of the property. These fees include an
administration charge. If you would like a Full Structural Survey,
please contact the Society for a quotation.
Term of Years
Applications will be considered for periods of up to a maximum of 35 years depending on the property's age and valuation.
Legal Costs of Mortgage
Legal charges for the investigation on behalf of the Society, of the
Borrower's legal title to the property and for the preparation of the
mortgage deed will be payable by the Borrower. It is usually possible
for the Society to instruct the firm of your choice, who will advise you
of the costs involved.
Buildings Insurance
The property will be used as security and it is a condition that it is adequately insured.
Mortgage Account Charges
Capital Repayments
Repayments additional to the normal amounts may be made at any time.
Where the sum is in excess of £100, an interest adjustment will be made.
Additional repayments of 20% of the outstanding balance or more per
year may be subject to an Early Repayment Charge.
Chaps Transfers £25
Fee charged to cover our costs in the transfer of funds from bank to bank.
Copy Statement £15
Unpaid Direct Debits and Cheques £30
Redemption Administration Fee £35
To cover our costs in the administration of the account due to repayment of the mortgage.
Inspection of Title Deeds £40
For inspecting Title Deeds when answering your queries and sending you any relevant copies.
Deeds Release and Sealing Fee £40
Fee charged for releasing title deeds and sealing legal documents.
Production of Redemption Statements £15
Administration fee for the work involved in the production and issue of Redemption Statements.
References (Including Statement of Account) £55
Providing information to a third party regarding the conduct of your account.
Dealing with Questionnaires £75
Dealing with questionnaires from third parties relating to an application made by you to that party.
Approval of Borrowers' own Building Insurance Policy £25
Residential Lettings Change in mortgage rate + £60
The Society's approval is required prior to entering into a Tenancy Agreement
Commercial Lettings Interest Rate Negotiable
Approval of Commercial Lettings £200
Dealing with Unpaid Ground Rent and Service Charges £75
Dealing with the Sale of Property in Possession £750
Consent to Register a Subsequent Charge at the Land Registry £35
Transfer of Equity £100
Change of Repayment Vehicle £50
First Arrears Letter £25
Broken Arrears Arrangement £25
Letter Instructing Solicitors £25
All charges are at the discretion of the Society and are subject to
change. Please note that this is a list of all the possible charges
that the Society can make at the present time, and they may not
be relevant to your mortgage.