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FOR INTERMEDIARIES ONLY
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Price List

1. Loan assessment and set up

What we'll charge forWhat the charge coversHow much we'll charge
Arrangement feeIf an intermediary submits your application, we pay them an arrangement fee when your loan completes. This fee is calculated as a percentage of your loan amount. You can choose to pay this in advance or have us deduct it from the money we send you.1.25%
Legal workThere’s always some legal work involved in processing your loan and because it varies from case to case, we’re not able to offer set prices. We’ll obtain quotes and you can then choose who you want us to use. We add no additional charge on to the quotes we get for you.£variable
Commercial valuationFor standard valuations (up to £1m), the cost of the valuation is based on a tiered price structure. See Table 1 below.£tiered
Commercial valuationNon-standard property valuations and valuations over £1m vary too much for us to offer set prices, so we’ll obtain quotes on your behalf and you can then choose who you want to use. We add no additional charge on to the quotes we get for you.£variable
Commercial valuation: London, for postcodes: UB, HA, NW, W, KT, TW, SM, SW, WC, EC, N, CR, E, IG, SE, BR, RM, DA, EN, WDFor standard valuations (up to £1m), the cost of the valuation is based on a tiered price structure. See Table 2 below.£tiered
Commercial valuation: London, for postcodes: UB, HA, NW, W, KT, TW, SM, SW, WC, EC, N, CR, E, IG, SE, BR, RM, DA, EN, WDNon-standard property valuations and valuations over £1m vary too much for us to offer set prices, so we'll obtain quotes on your behalf and you can then choose who you want to use. We add no additional charge on to the quotes we get for you.£variable
Cancelled ValuationsWhere any valuation is cancelled, a cancellation fee may apply.cancellation pre-inspection: £180 inclusive of VAT cancellation post-inspection: 50% of the agreed valuation fee
Property re-inspection Covers the cost of property re-inspection in Buy to Let cases where the projected valuation of the property must be validated before drawdown.£210 for property valuations £250 for business valuations

Table 1 - Commercial properties / HMO outside London

Valuation

Bricks & MortarBusiness
Transcripts
By quotation
up to £250,000£1,050£1,530
£250,001 - £500,000£1,170£1,890
£500,001 - £750,000£1,410£2,130
£750,001 - £1m£1,890£2,370
£1m+
By quotation

Table 2 - Commercial properties / HMO inside London

Valuation

Bricks & MortarBusiness
Transcripts
By quotation
up to £250,000£1,194£1,752
£250,001 - £500,000£1,332£2,166
£500,001 - £750,000£1,608£2,448
£750,001 - £1m£2,166£2,724
£1m+
By quotation

2. Managing your loan

What we'll charge forWhat the charge coversHow much we'll charge
CHAPSCovers the cost of sending funds electronically to you and/or your solicitor, via the Clearing House Automated Payment System.£10
Returned or unpaid Direct DebitCovers the time and cost for us to deal with each returned or unpaid Direct Debit and will be charged monthly. We only charge this once per month to ensure you aren’t penalised for a Direct Debit payment unexpectedly failing more than once.£8
Consent to LeaseCovers the time and cost for us to assess a request to lease your property. There will also be legal work needed to set up and approve a new lease.£160 + legal costs (at cost)
Other legal work (e.g. Deed of Permission or Deed of Variation) If we need any additional legal work to be carried out once your loan is set up, this covers the time and cost for us to assess the situation and a cost for the additional legal work.£160 + legal costs (at cost)
Audit letterCovers our time and costs to provide a letter to your accountant for audit purposes.£39 (inclusive of VAT)
Lender questionnaireCovers the time it takes for us to prepare and complete detailed answers for another lender, where you’ve applied for borrowing from them.£77 (inclusive of VAT)
Release of securityCovers the time and cost to release our security over your assets. We’ll charge this each time you ask us to release our security over one or more assets. In limited circumstances, we may need to instruct a solicitor and you would be responsible for these costs.£58 (inclusive of VAT)
Commercial ValuationThroughout the life of your loan, there are some circumstances where we may require a new valuation to be carried out — for example, if market conditions change, you breach your terms and conditions or if we have grounds to believe a default event has occurred. We will never ask for a new valuation to be carried out on a property more than once per calendar year unless we have reasonable grounds to believe a default event has occurred or shall occur. For standard valuations (up to £1m), the cost of the valuation is based on a tiered price structure and will be passed on in full to the valuer. See Table 1 above.£tiered
Early repayment charges (ERCs) for Fixed Rate loansWhere a customer with a fixed rate product decides to repay their loan, in whole or in part, prior to the final agreement date, an ERC may be payable.The amount of an ERC is calculated as a percentage of the early repayment being made in excess of the early repayment allowance (10% per annum in any repayment year before an ERC is applied). See Table 4 for percentages based on tenor.
We don’t charge you for the following: duplicate statements; provision of a lender’s reference; Data Subject Access Request.

3. Financial difficulties

What we'll charge forWhat the charge coversHow much we'll charge
Arrears managementIf you go into arrears, we may need to do further work to help you resolve the issues. We’ll charge for the time it takes us to do this (we’ll never ‘round up’ our time to the nearest hour).£32 per hour
Payment of service charge / ground rentIf you’re unable to pay your ground rent or service charge, we may pay it to protect our assets. This charge covers the time it takes us to do this. We’ll add any ground rent or service charges that we have to pay to your outstanding balance and interest will be charged on this amount at the same rate as your loan. Interest will not be charged on the £41 fee.£41
Agent home visitIf you find yourself in financial difficulties or arrears, we may instruct a 3rd party agent to assess your circumstances and look at the best repayment option. The cost of this service depends on the 3rd party; we don’t add any additional charge. This will be added to your account after the home visit has taken place.Up to £90+ VAT per customer/property visit
Appointing a receiverIf we need to appoint a Receiver under the Law of Property Act, we’ll pay their costs and then pass them onto you. Costs will vary depending on the property type and your circumstances.£variable
Litigation & recovery actionCovers the costs should we, as a last resort, have to commence litigation action. This will include instructing solicitors to either appoint receivers or issue court proceedings to repossess any security. This will be added to the outstanding amount that you owe.£variable
Repossession and asset managementCovers the cost for an asset manager to take possession of your assets, as well as the cost of insuring any repossessed assets and the costs of the asset manager to carry out work on our behalf, for example valuing and managing the sale of an asset. This also covers the costs of selling an asset following repossession. All costs will be added to the outstanding amount that you owe.£variable

4. Early Repayment Charges for Fixed Rate loans

TenorYear 1Year 2Year 3Year 4Year 5Year 6
2 year fixed2%1%
3 year fixed3%2%1%
4 year fixed4%3%2%1%
5 year fixed5%4%3%2%1%
6 year fixed6%5%4%3%2%1%