ACT tariff by jolinmilioncherie

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									                                                                                                                     borrowing


                                                                                                                     tariff of mortgage charges
                                                                                                                     Effective date 1 January 2009 for new borrowers and 1 March 2009 for existing borrowers
                                                                                                                     The following information itemises the Society’s charges for various services in connection with
                                                                                                                     your mortgage.

                                                                                                                                                                            Re-inspection Fee - £35
                                                                                                                     new mortgages                                          This fee relates to an additional visit by a valuer
                                                                                                                     Booking Fee - £ variable                               prior to the release of money retained by the
                                                                                                                     This is the fee to reserve a mortgage product. It is   Society.
                                                                                                                     payable on application and is not refundable.
                                                                                                                                                                            Telegraphic Transfer CHAPS (Clearing House
                                                                                                                     Arrangement Fee - £ variable                           Automated Payment System) - £25
                                                                                                                     Most mortgage lenders will charge customers            This charge applies for the electronic transfer of
                                                                                                                     an arrangement fee. This is to cover the cost          monies.
                                                                                                                     to the lender of setting up the mortgage. The
                                                                                                                     fee is dependent upon the mortgage product
                                                                                                                     chosen and is payable on application. In
                                                                                                                                                                            existing mortgages
                                                                                                                     some circumstances it may be possible to               Revaluation Fee - £85
                                                                                                                     add the fee to your mortgage and interest will         The fee covers the cost of a valuer assessing the
                                                                                                                     be payable from completion if this option is           value of your property.
                                                                                                                     available and chosen.                                  Reference/Historical Information - £50
                                                                                                                     Valuation Fee - £ variable                             This fee applies if the Society is required to
                                                                                                                     The fee is dependent upon the mortgage                 provide information on existing and closed
                                                                                                                     product chosen and is payable on application.          accounts. The fee covers the cost of providing
                                                                                                                     The fee covers the cost of a basic valuation,          the information requested.
                                                                                                                     more detailed valuations are available, please         Lettings - £100
                                                                                                                     ask for details.                                       A fee is required to undertake the administrative
                                                                                                                     Remortgage Fee - £95                                   process in letting a property.
                                                                                                                     This fee applies for loan amounts less than            Conversion of Repayment Method - £50
                                                                                                                     £75,000 or for products where the remortgage           The charge covers the cost of amending your
                                                                                                                     concession does not apply. The fee is payable          mortgage account.
                                                                                                                     upon application and covers the Society's
                                                                                                                     costs for the legal work involved in a standard        Change of Term - £50
                                                                                                                     remortgage transaction.                                This fee covers the administrative cost when you
                                                                                                                                                                            request an amendment to the original term of the
                                                                                                                     Additional Borrowing Fee - £135                        mortgage.
                                                                                                                     The fee is charged to cover the administration
                                                                                                                     process and the legal work involved in                 Early Redemption Charge (ERC) - £ variable
                                                                                                                     processing your application.                           Your mortgage can be repaid in full at any time;
                                                                                                                                                                            however, early redemption charges may apply.
                                                                                                                     Higher Lending Charge (HLC) - £ variable               Please refer to specific product terms for details.
                                                                                                                     A higher lending charge is payable if you are
                                                                                                                     borrowing more than 80% of the property's              Duplicate and Interim Mortgage Statements -
                                                                                                                     price/value. This charge is a single payment           per annum £15
Principal Office 6-20 Russell Street Nelson Lancashire BB9 7NJ                                                       and varies according to the amount you wish            If you require a list of transactions on your
t (01282) 440500 f (01282) 440550                                                                                    to borrow. In some circumstances it may be             mortgage account or a duplicate statement, we
e info@themarsden.co.uk w www.themarsden.co.uk                                                                       possible to add the fee to your mortgage and           charge £15 for each year’s or part year’s
                                                                                                                     interest will be payable from completion if this       transactions requested. The fee relates to the
                                                                                                                     option is available and chosen.                        time taken in producing and forwarding the
local knowledge financial strength trusted name                                                                      Re-offer Fee - £75
                                                                                                                                                                            relevant information.
                                                                                                                     The fee is charged to re-issue a mortgage              Certificate of Interest, Education Grant
Marsden Building Society is authorised and regulated by the Financial Services Authority and is entered in the FSA
                                                                                                                     offer upon expiry of the orignal offer after           Form/Letter of Confirmation - per annum £15
Register under number 206050.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE                                       three months, subject to the same                      Charged upon application for each tax year, the
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.                                                       product/conditions.                                    fee relates to the time taken to produce, complete
                                                                                                                                                                            and despatch the relevant form.

6100 321-10
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Refund of Mortgage Payments - £15
This fee covers the cost of the additional work
                                                       Possession Fee - £350
                                                       This charge relates to the administration of your
                                                                                                             general notes
involved in refunding any overpayments after           mortgage account from the date of repossession        • All fees can be paid by cheque or debit card.
redemption of a mortgage.                              to the date of sale.                                    The fees listed under "new mortgages" can
                                                                                                               also be paid by credit card. Credit card
Unpaid Payment Fee - £15
This fee is charged where a mortgage payment is
                                                       insurance                                               payments will incur a transaction charge of
                                                                                                               1.5%.
returned by your bank and applies to unpaid            Property Insured by the Borrower - £25
cheques recall of a payment by a bank or               If you choose not to insure your property through     • In the event that a charge is debited to your
uncleared direct debits.                               the Society or you cancel the insurance we have         account, you will be notified in writing to allow
                                                       arranged for you, a one-off administration fee will     you the opportunity to discharge the amount in
arrears administration                                 be payable. This charge is to cover the
                                                       contingency risk of the Society suffering financial
                                                                                                               full prior to incurring interest charges. The
                                                                                                               charge will be debited on the 1st day of the
It is important that you contact the Society as        loss and the administrative costs of ensuring           month following the month in which the debit
soon as possible if you are experiencing               adequacy of cover.                                      was notified to you. Should the fee remain
financial difficulty, as we may be able to help you                                                            unpaid on the last day of the month in which it
to resolve any problems you have meeting your
mortgage repayments. Should your account fall
                                                       deeds-related charges                                   was debited interest will be charged from that
                                                                                                               date.
into arrears the Society will contact you by letter    Annual Fee for Deeds Storage - £50
or telephone and no charge will be made if a           The annual charge covers the cost of retaining        • If a redemption statement has been requested
satisfactory arrangement is entered into.              your deeds with the Society (existing nominal           and charges are due, these will be debited to
Failure to maintain the arrangements will result in    accounts only). The fee is waived if the Society        your account on the date the redemption
your account being placed for Legal Recovery           continues to arrange your buildings insurance.          statement is produced and interest will be
and the following charges will be made and                                                                     charged from that date. You will be notified of
                                                       Despatch of Title Deeds - £30                           any charges that have been made.
added to your mortgage.
                                                       This fee relates to the retrieving of deeds from
Placement Fee - £100                                   safe custody and making them accessible to your       • Any charges for services not referred to in this
This fee is payable for the administrative work        solicitor, at your request.                             Tariff will be quoted upon request or at the
involved in placing a mortgage account with the                                                                time the service is offered. The Society
                                                       Deeds Enquiry/Photocopying - £30                        reserves the right to introduce, vary, amend or
Society’s Legal Recovery Department.
                                                       If you make an enquiry about your deeds, we             withdraw charges from time to time. We will
Legal Recovery Charges                                 have to obtain them from safe custody, examine          send you a Tariff each year if there have been
                                                       them, photocopy and post the requested                  changes to it. All fees are inclusive of VAT,
• Monthly charge                                       documents. A land registry search may be                where applicable.
  (more than 2 months in arrears) - £25                required.
• Preparation of particulars - £90
• Application to reinstate hearing - £40               Release of Part of Mortgaged Security - £50
• Preparation of affidavits/witness statements - £70   Upon the release of part of the mortgaged
• Cancellation of hearing - £30                        security, a deed is sealed in discharge. The fee
• Application for warrant - £75                        relates to obtaining the deeds from safe custody,
• Application to reinstate warrant - £40               administration and sealing of the document.
• Cancellation of warrant - £30
• Interview (short) - £15                              redemption charges
• Attendance at court (Society) - £65 to £100          Closure Fee - Up to £150
Disbursements                                          This is the fee charged for the administrative work
                                                       involved when you repay your mortgage. It
• Plaint fee - £100 to £150                            includes the preparation and sealing of
• Oath fees - affidavit - £5                           documents and the despatch of title deeds to
• Oath fees - exhibits - £2 each                       you/your solicitor. The amount charged is the
• Warrant fees - £95                                   amount stated on your original offer of loan or any
• Special service where property vacant - £25          subsequent documentation supplied on variation
• Search fees - unregistered land - £2 (per            to your mortgage (e.g. additional borrowing or
  borrower)                                            product switch).
• Search fees - registered land - £3
• Recorded delivery - £2                               Repeat Redemption Requests - £25
• Attendance at court (external representative) -      This fee is charged where more than one
  up to £500                                           redemption statement, is provided to either you or
All disbursements are paid by the Society to           your solicitor/conveyancer in any calendar year.
outside agencies in respect of legal action. These     One redemption statement will be issued free of
fees are subsequently charged to your account          charge after which the fee will be incurred on
and may be subject to change if the relevant           provision of a second redemption statement and
agency reviews its charges.                            each redemption statement thereafter.

								
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