Tariff of Mortgage Charges
Here are details of the Stafford Railway Building Society’s current fees relating to mortgage accounts. Stafford Railway Building Society is closely involved in the mortgage industry’s initiative with the Council of Mortgage Lender 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 notice some that don’t appear in our tariff link (below). This means we don’t charge you these fees.
If you need any further information regarding any of our charges, please feel free to contact us.
|Redemption Statement||£15||A redemption statement is issued free of charge upon request. However, a fee is charged for any 2nd and subsequent request in a 12-month period.|
|Duplicate Mortgage Tax Certificate (for each year)||£15||Charged if you request a second or subsequent certificate of interest paid.|
|Duplicate Mortgage Statement||£15||Each year an annual statement is issued to all mortgage customers. If you request a duplicate of this statement, we charge this fee to cover the administration costs producing the statement again.|
|Unpaid Mortgage Cheque Fee||£25||This fee applies if your payment by cheque is retuned by your bank.|
|Mortgage CHAPs Fee (funds transfer)||£30||A charge for electronically transferring the mortgage funds to you or your solicitor.|
|Unpaid Mortgage Fee(arrears)||£45||You may be charged an arrears fee on a monthly basis, or when specific events happen in the management of your mortgage account when you are in arrears.|
This covers charges in respect of your account if you fall behind with your payments.
|Mortgage Exit Fee||£100||You may be charged this:|
This fee does not apply when your mortgage term naturally comes to an end.
|Partial Release of Property Fee||£130||Payable if you want to remove part of the property or land from the mortgage. It covers administration costs when issuing letters of consent.|
|Transfer of Equity||£180||This fee will be charged if you make a request for an amendment to the name or names on your mortgage.|
|Mortgage Questionnaire Fee||£35||To cover the cost of providing another lender with a reference.|
|Litigation Fee (commence legal action)||£100||If your account is referred to the Society’s solicitors to instigate proceedings to recover arrears.|
|Change of Term Fee||£60||The fee covers the administration cost of assessing and amending the term on your mortgage account.|
|Change of Repayment method fee||£60||This fee covers the administration costs in transferring your account, or part of it from repayment to interest only or vice versa.|
|Land Registry Fee||Variable||When applying for a further advance, this covers the cost of Land Registry checks carried out by the Society.|
|Deed of Variation||£30||This charge is made whenever you request a variation to your existing mortgage terms and conditions, to which we agree.|
|Deeds Release Fee||£25||This fee applies should your solicitor request the release of the title deeds relating to your property.|
|Consent to Let Fee||£35||If you wish to let your house to another party, you will need to obtain the Society’s permission. This fee covers the cost of approving the letting.|
|Property in Possession Fee||£200||When a repossessed property is sold by the Society, this charge will be made to the mortgage account to cover the Society’s costs of administering the sale of the property. In addition, marketing and legal fees will also be incurred and charged to the borrower.|
|Copies of Title Deeds||£35||This charge covers the costs of supplying copy extracts from your title deeds or obtaining up to date details form the Land Registry for you.|
|Payment of Unpaid Ground Rent / Service Charges Letter||£90||When we have to communicate with you and/or your landlord regarding outstanding ground rent or service charges in order to protect the security for the loan.|
|Unpaid Direct Debit Fee||£30||This charge covers the processing of an unpaid Direct Debit on a mortgage account.|
|Early Repayment Charge||Please refer to your mortgage offer||You may have to pay this if:|
|Application Fee||Variable||Assessing and processing your application (even if your application is unsuccessful or you withdraw it).|
|Product Fee||Variable||This is charged on some mortgages as part of the product|
This tariff is subject to change. If we adjust the charge for any service, we will give you 30 days’ notice, in writing, at your current address in our records.
Other General mortgage information