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. You may wish to opt for a more comprehensive Homebuyer Survey and Valuation, see below for the associated charge. For further information please contact your local Personal Adviser in branch or on 0845 601 3344.
| Purchase price not exceeding |
Standard Valuation fee for mortgage purposes |
Homebuyer Survey and Valuation fee (when arranged by us) |
| £100,000 | £220.00 | £395.00 |
| £150,000 | £240.00 | £425.00 |
| £200,000 | £275.00 | £485.00 |
| £250,000 | £310.00 | £535.00 |
| £300,000 | £350.00 | £595.00 |
| £350,000 | £395.00 | £650.00 |
| £400,000 | £415.00 | £705.00 |
| £450,000 | £445.00 | £755.00 |
| £500,000 | £470.00 | £795.00 |
| £600,000 | £515.00 | £865.00 |
| £700,000 | £595.00 | £930.00 |
| £800,000 | £645.00 | £975.00 |
| £900,000 | £715.00 | £990.00 |
| £1,000,000 | £760.00 | £1,050.00 |
Additional borrowing and re-inspections
For additional borrowing a valuation fee of £100.00 may apply.For re-inspections a valuation fee of £65.00 may apply.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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Phone 0845 601 3344
Mon-Fri: 8:30am - 8:30pm
Sat: 9:00am - 6:00pm
Sun: 11:00am - 5:00pm
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Email
enquiry@cambridgebs.co.uk
