Tariff of Charges

We believe that good service should come as standard. We do acknowledge, however, that there are some processes that are costly to us. We think it is unfair to expect the whole membership to pay for costs incurred by individuals. Therefore, the following charges apply to all loan accounts:

Mortgage funds release fee £25.00

This is a fee to cover our bank charges and administration costs to transfer funds electronically from our bank to either a solicitor’s bank or directly to the borrower’s bank at the set up of the loan.

Unpaid direct debit or cheque fee £22.00

This is a fee to cover our bank charges and administration costs for handling a borrower’s unpaid cheque and direct debit.

Arrears charges

The following fees will be charged where the Society commences possession proceedings:
Solicitor instruction fee £70.00
Possession fee £250.00

Redemption administration fee £60.00

This fee covers our administration costs for closing a mortgage account. This fee is not charged where the loan has reached the end of its natural term or the borrower has taken out a new loan with us.

Property valuation fee for mortgage purposes

It is required by law that we carry out a valuation of the property to be mortgaged, to assess the security offered by the property. Shown below are the charges for a Standard Valuation for mortgage purposes. Your client may wish to opt for a more comprehensive Homebuyer Survey and Valuation, see below for the associated charge. For further information please contact our Business Development Team on 0345 601 2744.