Fees

Valuation fees

The lender’s valuation report, which is used to calculate how much it will lend you. This is separate from any valuation or survey of the property you might want to commission.

There are other homebuyers or structural survey options available to you at a cost and there may be different approaches in different parts of the UK.

Some mortgages offer free valuations – the product details for your mortgage will tell you if this is the case.

Pepper Homeloans base the fees below upon the estimated value / purchase price of the property for a valuation report that includes: a description of the property, market value at the time of inspection and an estimate of the current cost to reinstate the property in its present form.

Purchase Price/Estimated Value Valuation Fee inclusive of VAT
< £100,000 £320
£100,001 - £150,000 £350
£150,001 - £200,000 £400
£200,001 - £250,000 £450
£250,001 - £300,000 £480
£300,001 - £350,000 £500
£350,001 - £400,000 £550
£400,001 - £500,000  £575
£500,001 - £600,000 £600
£600,001 - £700,000  £700
£700,001 - £800,000  £750
£800,001 - £900,000  £800
£900,001 - £1,000,000 £850

£1,000,001 - £1,250,000

£950
£1,250,001 - £1,500,000 £1,100
£1,500,001 - £1,750,000 £1,250
£1,750,001 - £2,000,000 £1,500
£2,000,001 - £2,800,000 £1,750
£2,800,001 - £3,000,000 £1,850
£3,000,001 - £4,000,000 £2,250
£4,000,001, - £5,000,000 £2,750

Other fees due before your first monthly payment

Fee name Description Fee
Completion Fee Charged when completing your mortgage, as detailed in your Mortgage Offer. £ variable

Funds Transfer Fee

At Pepper Homeloans we call this the Telegraphic Transfer / CHAPS Fee

Electronically transferring the mortgage funds to you or your solicitor. £15.00
Legal Fee

You will have a solicitor instructed to act on your behalf in connection with your application. You will be required to pay their legal fees and costs as part of their work. These fees are normally charged by the solicitor directly to you, unless we inform you that we will contribute to these costs as part of your overall product deal.

At Pepper Homeloans, you will also have to pay for the conveyancing work undertaken on our behalf. This fee is in addition to the fees that your solicitor or conveyancer will charge in respect of the conveyancing work carried out on your behalf

 £ variable

Fees due if you request more information or services

Fee name Description Fee

Data Subject Access Request Fee

Charged for providing you with a copy of the personal data we hold about you. This fee is per person.

£10.00

Request for Legal Documentation Fee

At Pepper Homeloans we call this the Deeds Fee

Any original documents relating to your mortgage, e.g. title deeds, that you ask for.

At Pepper Homeloans, we also charge this fee for the release of deeds once you repay your mortgage in full.

£22.50

Lender Insurance

Charged to cover the cost of third party insurance to protect our secured interest in your property when we have not been provided with evidence that you have your own Building Insurance Cover. This is charged monthly and is based upon the outstanding balance of your mortgage. We will advise you of the amount payable.

£ variable

Unpaid Ground Rent / Service Charge Fee

Charged to cover the administrative costs associated with our paying any outstanding ground rent or service charges or associated costs and fees on the mortgaged property following our receipt of a notification that you have not paid such ground rent, service charges or associated costs and fees when due. This fee is charged in addition to your obligation to reimburse us for the amount of any such ground rent, service charges or associated fees paid on your behalf.

£30.00

Fees due if you change your mortgage

Fee name Description Fee

Consent To Let Fee

At Pepper Homeloans we call this the Letting of Property Fee

If you want to let your property but don’t have a buy-to-let mortgage, you’ll pay this for each ‘consent to let’ agreement, where we agree to you letting out your property for a set period within your existing owner-occupied mortgage. £45.00
Subsequent Mortgage Consent Fee Charged to cover the administrative costs associated with considering a request for our consent to the addition of a subsequent charge. £40.00 + VAT

Change of Parties - Application Fee

At Pepper Homeloans we call this the Transfer of Equity - Application Fee

Charged to cover the administrative and underwriting costs associated with considering an application to add or remove someone (a ‘party’) from the mortgage. £82.50

Change of Parties - Completion Fee

At Pepper Homeloans we call this the Transfer of Equity - Completion Fee

Charged to cover the administrative and underwriting costs associated with adding or removing someone (a ‘party’) from the mortgage. At Pepper Homeloans, this is charged in addition to the Transfer of Equity – Application Fee.

£50.00

Fees due if you’re unable to pay your mortgage

Fee name Description Fee
Arrears Fee

You may be charged an arrears fee on a monthly basis, or when specific events happen in the management of your account when you are in arrears.

This covers charges in respect of your account if you fall behind on your payments.

At Pepper Homeloans, this fee will not be charged in months where there is an arrangement in place and maintained to repay the outstanding arrears balance or the contractual monthly instalment has been received.

£23.50
Monthly Property Management Fee Charged monthly from the point your property is repossessed, to cover the administrative costs of our management of the process to secure, insure, market and sell the property. Any costs incurred from third parties to secure, insure, market and sell the property are not included within this fee. £42.50 + VAT
Field Agent Instruction and Visit Fee Charged in relation to the costs of a representative visiting you at your home to discuss your financial situation and proposals to pay the outstanding arrears balance. £90.00 + VAT

Fees due at the end of your mortgage term

Fee name Description Fee

Mortgage Exit Fee

At Pepper Homeloans we call this the Security Release Fee

You may pay this if:
You repay your mortgage in full before the mortgage term ends;
Your mortgage term comes to an end;
You transfer the loan to another lender; or
You transfer borrowing from one property to another.

This is payable at either 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’).

You may be charged a separate fee by your solicitor or licensed or qualified conveyancer for their work relating to redemption of the mortgage and discharge of the security.

£30.00

Whilst this Tariff includes our current fees and charges in operation from 1 February 2017, these are subject to review by us and may be amended. Our charges for services not referred to in this document will be advised at the time the service is offered or charge incurred. All fees charged include VAT where appropriate and where we are charged VAT by third parties, we will pass this cost on to you.

There may be other charges or costs that arise in addition to those outlined in the event that any arrears are not cleared and further action is taken, or if you are otherwise in breach of your obligations under your mortgage loan. You will be responsible for any additional costs we incur as a result of your account being in arrears or otherwise in default and /or in relation to us enforcing our security.

Fees and charges shall be imposed in accordance with the above except where the terms and conditions of your Agreement provide otherwise. These fees may be amended from time to time.

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