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Halifax is closely involved in the mortgage industry’s initiative with UK Finance 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. This same document is being used across the industry to help customers compare mortgages.
When looking at the fees that other firms charge, you may see some that don’t appear in our tariff (below). This means we don't charge you these fees.
In our mortgage conditions, we refer to this Tariff of Mortgage Charges as our charges and our costs. These are the charges and standard costs that you may have to pay us during the life of your mortgage. We'll tell you of any charges in advance, so you'll have agreed to them before they become payable. These charges and standard costs can change from time to time.
Further information about how we deal with charges and costs can be found in the Mortgage Conditions booklet we send if you receive a mortgage offer.
For simplicity, whenever we refer to 'solicitor', we mean a 'conveyancer' or a 'solicitor'.
When you'll pay this charge |
Name of charge |
What this charge is for |
How much is the charge? |
---|---|---|---|
When you'll pay this charge Before your first monthly payment |
Name of charge Product fee |
What this charge is for 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. |
How much is the charge? This fee varies and will be listed as part of the details of a product shown in your Illustration and offer letter. |
When you'll pay this charge Before your first monthly payment |
Name of charge Re-inspection fee (We call this Property re-inspection fee) |
What this charge is for If your mortgage loan 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’s carried out. We may also charge this fee where a re-inspection of the property is necessary after the initial valuation is carried out for example, when we are asked to release money that we have held back. |
How much is the charge? £70 per inspection |
When you'll pay this charge Before your first monthly payment |
Name of charge Valuation fee |
What this charge is for The lender’s valuation report, which is used to calculate how much it will lend you. This is separate from any property valuation or survey of the property you might want to commission. |
How much is the charge? From £100. This fee varies based on the property value and type of scheme you chose. |
When you'll pay this charge Before your first monthly payment |
Name of charge Account fee (We call this Mortgage Account fee) |
What this charge is for Depending on your product, you may be charged a fee for creating and managing your mortgage account. |
How much is the charge? £295 |
When you will pay this charge |
Name of charge |
What this charge is for |
How much is the charge? |
---|---|---|---|
When you will pay this charge If you change your mortgage |
Name of charge Revaluation fee for additional borrowing |
What this charge is for This fee may be payable where you have applied for additional borrowing. It covers the cost of getting a valuation of your property where we need to and involves an internal inspection. |
How much is the charge? Dependent on property value. |
When you will pay this charge If you change your mortgage |
Name of charge Partial release of property fee (We call this Property re-inspection fee) |
What this charge is for Payable if you want to remove part of the property or land from the mortgage. It covers the new valuation we need to do for the release of land. |
How much is the charge? £70 per inspection |
When you will pay this charge If you change your mortgage |
Name of charge Early repayment charge (changing your mortgage) |
What this charge is for You may have to pay this if:
|
How much is the charge? The fee will be a percentage of the loan amount. Please refer to your Illustration or offer letter for full details. |
When you will pay this charge |
Name of charge |
What this charge is for |
How much is the charge? |
---|---|---|---|
When you will pay this charge If you can't pay your mortgage |
Name of charge Arrears fee (We call this Arrears management fee) |
What this charge is for You may be charged a fee if you fall behind with your payments and your account is in arrears. |
How much is the charge? £35 |
When you will pay this charge If you are unable to pay your mortgage |
Name of charge Litigation management fee |
What this charge is for If we instruct solicitors to collect arrears or seek possession. |
How much is the charge? £100 |
You must also meet other additional costs we incur. These costs may include such things as the following work, which Third Parties may do on our behalf:
When you will pay this charge |
Name of charge |
What this charge is for |
How much is the charge? |
---|---|---|---|
When you will pay this charge Ending your mortgage term |
Name of charge Early repayment charge (ending your mortgage) |
What this charge is for You may be charged this if you repay your mortgage in full before the mortgage term ends. |
How much is the charge? The fee will be a percentage of the loan amount. Please refer to your Illustration or offer letter for full details. |
When you will pay this charge Ending your mortgage term |
Name of charge Mortgage exit fee (We call this Repayment Administration fee) |
What this charge is for You may have to pay this if:
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’). |
How much is the charge? Up to £50 - See your Annual Mortgage Statement for details. |
There are other costs related with buying a property and taking out a mortgage.