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 firstname.lastname@example.org 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 borrowing borrowing 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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