Tariff of Mortgage Charges

Holmesdale is closely involved in the mortgage industry’s initiative with the Council of Mortgage Lenders and Which? to make our fees and charges easy for you to understand.

Our tariff of charges fully reflects the initiative’s good practice principles.

Before your first Monthly Payment

These are the fees and charges you may have to pay before we transfer your mortgage funds

Name of charge

What this charge is for?

How much is the charge?

Application Fee

Assessing and processing your application (even if your application is unsuccessful or you withdraw it).

 

This may not be charged on all applications. Please refer to your Mortgage Offer (Offer of Loan).

Refer to Lender

Funds Transfer Fee

Electronically transferring the mortgage funds to you or your solicitor.

 

Only charged by Holmesdale for same day bank transfer. Holmesdale does not charge for transfer by BACS.

 £30

Legal Fee

You will normally instruct a solicitor to act on your behalf in connection with your home purchase transaction. 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.

Refer to Solicitor

Product Fee

This is charged on some mortgages as part of the deal. It can be paid up-front or added to the total mortgage amount. If you add it to your mortgage, you’ll pay interest on it at the same rate as the rest of your borrowing. It might be a flat fee, or a percentage of the loan amount.

 

Varies by product. Please refer to your Mortgage Offer (Offer of Loan)

Refer to Lender

Revised Mortgage Offer

This fee is charged to cover the costs of re-issuing a Mortgage Offer when an applicant requests a change to the terms already offered, or if a legal completion has not taken place within 6 months of the offer date.

£100

Further Advance – Basic Administration

This fee is charged to cover our administration costs in processing a further advance on your main mortgage account.

£149

Increasing as per scale (refer to Lender)

Re-Inspection Fee

If your mortgage is released in stages and you’re using it to renovate your home, this covers the new valuation we need to do after the work is carried out.

 

At Holmesdale, a re-inspection may be required where the valuation expires and needs to be updated.

Standard re-inspection fee £110

Fees may vary for different products

Valuation Fee

The lender’s valuation report which is used to calculate how much it will lend you.

This is separate from any valuation or survey of the property you might want to commission. 

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.

 

Above £1m please contact us separately.


The valuation fees are inclusive of VAT.


The fees include a £10 administration charge in respect of the valuer’s instruction and a £20 fee for general administration (non-refundable) 

Purchase Price up to

Val Fee

£100,000

£150

£150,000

£180

£200,000

£210

£250,000

£240

£300,000

£270

£350,000

£300

£400,000

£330

£450,000

£360

£500,000

£390

£550,000

£425

£600,000

£455

£650,000

£485

£700,000

£515

£750,000

£545

£800,000

£580

£850,000

£610

£900,000

£640

£950,000

£670

£1,000,000

£700

 

 

If you ask us for extra documentation and/or services beyond the standard management of your account

Name of charge

What is this charge for?

How much is this charge

Duplicate/ Interim Statement

Requesting a copy of a previous mortgage statement or an interim statement of your account as it stands.


It might be paid by you or another lender.

£20 per statement

Request for Legal Documentation

Any original documents relating to your mortgage, such as title deeds which you ask for.

Refer to Lender

Duplicate Request for Certificate of Interest Paid (for each year)

Charged if you request a second or subsequent Certificate of Interest Paid.

£20

Second Mortgage Questionnaire Completion

This fee is charged to cover our costs for completing any mortgage questionnaire submitted by a second or subsequent lender.

£75

Deed of Postponement/Deed of Variation

This fee is charged to cover our costs for reviewing and approving the deed and any change to the terms of your mortgage.


Borrowers will be liable for their own solicitor’s costs in preparing the documentation.

£99 + Solicitor's Fee

Referral to Solicitors

This is the charge we make if we are required to submit any documentation to our solicitors for approval/guidance.

£100

Signing/Sealing of any Documents

We will make a charge to cover the costs of sealing any legal documents (for example, re-assignment of endowment policy).

£25

Copy Documents from Title Deeds

We will make a charge if you require a copy of any documents from your title deeds

£20

Data Protection Subject Access Request (SAR)

If you request access to information we hold about you, under the Data Protection (SAR) rules, this is a charge we will make to cover our costs.

£10

Lender’s Reference

This fee is to cover charges incurred in obtaining a mortgage reference from your existing lender when transferring your mortgage to us.

As charged by institution

 

 

If you change your mortgage
NB If you change to a new mortgage product, the ‘before your first monthly payment’ fees may also apply at this stage.

Name of charge

What is this charge for?

How much is this charge?

Early Repayment Charge

You may have to pay this if:

• you overpay more than your mortgage term allows;

• you switch mortgage product or lender during a special rate period (e.g. while you’re on a fixed or tracker interest rate).

 

Product specific

Refer to Lender

Change of Term

Extending or reducing the remaining term of your mortgage.

£50

Change of Repayment Method

Transferring all or part of your mortgage from a capital & interest to an interest-only basis and vice versa.

£149

Change of Repayment Strategy

This fee is charged to cover our costs of re-assessing your affordability if you decide to change your repayment strategy

£59

Product Transfer

This is the charge we make if you wish to switch to an alternative mortgage product.

 

Please note this charge is in addition to fees applicable to the individual product.

£100

Partial Release of Property

Payable 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.

£50

Change of Parties Administration Fee

Our administration costs of adding or removing someone (a ‘party’) to or from the mortgage.

 

This does not include any fees the solicitors may charge

£175

Consent to Let

If you want to let your property but don’t have a buy-to-let mortgage, you’ll pay this for each ‘consent to let’ agreement, where we agree to you letting out your property for a set period within your existing owner-occupier mortgage.

Initial charge £149

Further Advance Re-Valuation Fee

This fee is charged by the valuer for carrying out a re-valuation of the property. This fee is non-refundable once the re-valuation has been carried out.

Refer to Lender

Giving you a reference

Charged to cover legal and administrative work plus any valuation required on a Personal Secured Loan application.

£50

Consent to Solar Panel Installation

Some solar panel installations require the consent of the lender. We will make a charge to review any agreements relating to installation.

 

This charge will include any costs associated with referring the documentation to our solicitors.

£249

 

 

If you are unable to pay your mortgage
These are the most common charges you may have to pay if you fail to keep up with your mortgage payments. Some charges, for example, those covering unpaid/returned direct debits or cheques, occur at the early stages of your inability to pay (arrears). Other charges, for example, relating to our repossession of the property, may apply later in the process and will be dependent on your circumstances.

Name of charge

What is this charge for?

How much is this charge?

Unpaid/Returned Direct Debit or Cheque

Payable when your nominated bank rejects a direct debit collection or your payment by cheque is returned unpaid by your bank.

£15

Arrears Fee

This covers charges in respect of your account if you fall behind with your payments.

Refer to Lender

Possession Proceedings

In the event of the Society having to instigate legal proceedings to obtain a Court Order to repossess your property, this is the charge we make to cover our additional administrative expenses

£200 + cost of enforcement

 

 

Ending your mortgage term

Name of charge

What is this charge for?

How much is this charge?

Early Repayment Charge

(Ending Your Mortgage)

You may be charged this if you repay your mortgage in full before the mortgage term ends.

 

Product specific.

Refer to Lender

Redemption Statement

This fee is charged on third and subsequent request for a redemption statement within any 12 month rolling period.

£30

Mortgage Exit Fee

You may have to pay this if:

• your mortgage term comes to an end;

• you transfer the loan to another lender;

• transfer borrowing from one property to another; or

• pay off your mortgage in full.

 

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 licenced or qualified conveyancer for their work relating to redemption of the mortgage and discharge of the security.

 

This may not be charged on all applications. Please refer to your Mortgage Offer.

£149

 

 

Other Fees

Name of charge

What is this charge for?

How much is this charge?

Faster Payment Service

We make this charge to cover charges imposed by our bank together with a small handling fee (maximum transaction of £100,000).

Same day - £5

Next day - Free

Stopped Cheque


(where the customer has lost the cheque)

We make this charge to cover charges made by our bank plus a small administration charge. Please note that we cannot stop cheques made payable to third parties because you have changed your mind or are not satisfied with the goods/services provided. 

£10