Ancillary Charges

General Guidance

Terms defined in our Offer Letter or Loan Agreement and not otherwise defined in this Tariff of Charges shall have the same meaning in this Tariff. The table below is intended to give The Borrower (“you/your”) details of fees which may be charged by The Lender (“we/us/our”). These fees will become chargeable once our Offer Letter has been signed and returned to us by you and, where applicable, will apply whether or not the Loan proceeds to draw down.

The fees and charges shown do not include any amounts charged by Solicitors or other agents instructed by us (eg. Surveyors). Under the Terms of our Loan Agreement all costs charged by Solicitors and/or other agents are payable in full by you, including on a full indemnity basis where these are incurred and paid by us.

This Tariff also provides you with an explanation of each fee and how/when it will be applied. Unless advised otherwise, all fees are added to the Loan Account and are required to be paid immediately regardless of whether or not we issue a specific demand.

Where “General Fees” are charged we will provide you with a written preadvice. Where ”Arrears/Default and Litigation Charges” are applied, we will provide you with a monthly statement detailing the charges applied to your Loan Account.

Fees and Charges marked * are those which we would expect to be subject to additional charges applied by our Solicitor or other agents.

Please note that this is for indication only and is not intended to be a definitive list of items which may incur additional charges.

General Fees

Description Charge
Funds Transmission Fee £25
Buildings Insurance Fee £75
Calculating Settlement Figures £25
Approval of Lease / Tenancy Agreements £50*
Approval of Easement £25*
Unpaid Ground Rent and/or Service Charge £50*
Sale / Part-Sale / Transfer of the security £25*
Consent to another lender / Mtge Questionnaire £250*
Confirmation of Payment History £50
Approve Deed of Priority £50*
Unpaid Direct Debit / Standing Order / Cheque £40
Site Monitoring Visit – per visit £100/£200

Arrears/Default & Litigation Related Charges

Description Charge
Letters and calls to customers £25
Letters and calls to Third Parties £25*
Instruction of Collection Agents £100*
Issue of Default Notice £0*
Issue of Possession Proceedings £150*
Court Preparation Fee £175*
Court Hearing Fee £250* (from)
Issue a Warrant for Possession £0*
Borrowers Application to suspend Legal Action £150*
Repossessing Property £0*
Issuing a demand to appoint a Receiver £750*
Appointing a Receiver to manage the Account £1250*
Directors time (where applicable) – per hour £100

Explanation of Fees and Charges

Funds Transmission Fee: Charged on each occasion that you request us to send funds to you or your Solicitor.

Buildings Insurance Fee: Charged in the event that we are required to arrange and insure the security property ourselves with our own nominated Insurer. The circumstances in which this may arise include: (a) where we consider that the insurance arranged by you is unsatisfactory, (b) your insurance is refused or cancelled, (c) in the event of repossession of the property. Please note that this fee is our administration charge and the cost of the specific Insurance Premium will be payable by you, immediately, in addition.

Calculating Settlement Figures: Charged when we are requested to provide a settlement figure and statement to you or your Solicitor. We will not charge for the first request.

Approval of Tenancy Agreements: Charged where we are asked to give our approval and specific consent to the creation of a Lease or Tenancy Agreement which was not pre-existing on draw down of the Loan.

Approval of Easements: Charged where we are asked to give our approval and specific consent to an Easement which was not preexisting on draw down of the Loan.

Unpaid Ground Rent and/or Service Charge: Charged in the event that we are required to deal with the Freeholder to your Property regarding any amounts of Ground Rent or Service Charge with which you are in arrears. Please note that this is our administration charge and the specific amount of the arrears will be payable by you, immediately, in addition.

Sale/Part-sale/Transfer of the security: Charged where we are required to execute and provide any form of full or part release document for the security Property.

Consent to another lender/Mortgage Questionnaire: Charged in the event that we are required to deal with a request from another Lender for consent to them obtaining a subsequent charge over the security Property and/or providing information regarding the Property/our existing charge/your Account with us.

Confirmation of Payment History: Charged where we are asked to provide information about your payment history with us to a third party.

Approval of Deed of Priority: Charged where we are asked to give our approval to a formal arrangement of security priority with another Lender.

Unpaid Direct Debit/Standing Order/Cheque: Charged when your payment to us is refused or cancelled and the amount due to us is not received in full on the due date.

Site Monitoring Visit: In the event that there is a formal requirement for ongoing monitoring of the Property (such as in the case of development) and the agreed method is by visits from us, we will charge a fee for each visit. Where the property is within a distance of 100 miles of our Office, the fee charged will be £100 per visit. Where this distance exceeds 100 miles the fee charged will be £200 per visit.

Letters and calls to Customers: Charged for corresponding with you by letter, email or phone when collection action is required or you have committed an act of default. We will not charge for incoming items and there will be a maximum charge of £150 per month.

Letters and calls to Third Parties: Charged for corresponding with a third party by letter, email or phone when collection action is required or you have committed an act of default. We will not charge for incoming items and there will be a maximum charge of £150 per month.

Instruction of Collection Agents: Charged where we are required to instruct a collection agent to recover arrears owed by you.

Issue of Default Notice: Our charge for the issuing of a formal Default Notice where an act of Default has occurred.

Issue of Possession Proceedings: Charged where we are required to deal with the various aspects of possession proceedings, including the approval and consent for the issuing of documents.

Court Preparation Fee: Charged where we are required to prepare documents for a court hearing and/or appoint agents to attend on our behalf.

Court Hearing Fee: Charged where we are required to attend a court hearing.

Issue a Warrant for Possession: Charged for the issue (or re-issue) of a Warrant for Possession.

Borrowers Application to suspend Legal Action: In the event that you apply for the suspension of our legal action we will charge for the process of considering the application and the subsequent action required.

Repossessing the Property: Our charge in the event that we repossess your property.

Issuing a demand to appoint a Receiver: Our charge for carrying out a full review of your file, Loan history and risk assessment together with the preparation and issue of the relevant demand advising of the appointment of a receiver.

Appointing a Receiver to manage the Account: Our charge for dealing with all aspects of appointing a receiver including considering and appointing a suitable receiver, preparing and approving documents, corresponding with third parties/other agents and obtaining necessary advice.

Directors Time: Once we have repossessed a property or appointed a Receiver to manage your account we will make a further charge for any additional time incurred by our directors in dealing with your account, such as meetings with you and/or visits to the property.