LENDER ARRANGEMENT FEE        

 

Paid to the lender to arrange your mortgage.

Can be paid up front or added to the loan.

Typically £995 or up to 1.5% of the loan for commercial borrowing.

Can be free when re-mortgaging or for certain purchases.

 

VALUATION FEE 

           

Paid to the lender to have the property valued.

Completed prior to an offer being made by the lender.

Paid up front and cost based on property value.

Typically £250 - £1,000, but often free for re-mortgages.

 

LEGAL FEES

 

Paid to have legal representation for a property transaction. 

Usually paid to your own solicitor.

Free legal costs may be available.

Typically £1,000 - £1,500 depending on transaction.

 

BOOKING FEE            

 

Sometimes levied by a lender on fixed rate products.

Typically £100 - £200.

 

LENDER CONVEYANCING

        

Some lenders ask for a contribution towards their legal costs.

Typically £100 - £300.

 

BROKER FEE

            

Charged for advice given by the Broker to source the best product for you.

Covers the time taken to interview clients, obtain documentation, conduct research, complete an application, liaise with lender and reach the offer stage.

Typically £495 - £995 or up to 1.50% of the loan on complex cases.

 

FUNDS TRANSFER FEE 

       

Cost levied by a lender to send mortgage funds to the client's Solicitor.

Typically £20.00 - £35.00.

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STAMP DUTY

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You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland. The current SDLT threshold is £250,000 for residential properties. There are different rules if you're buying your first home.​

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Please click the link to the gov.uk website to calculate the potential cost of stamp duty for your purchase.