Mortgages & Protection

How much will my mortgage cost?

The cost of your regular mortgage payment will depend on the interest rate, the repayment method (interest only or repayment) and (if you are choosing a repayment mortgage), the term of the loan. Our mortgage calculators allow you to investigate this further.

There may also be other costs to consider, including:

• Property valuation fees, payable to the mortgage lender
• Arrangement fees, payable to the mortgage lender, for certain products
• High Lending Charges, charged by some lenders, when the amount of the loan represents a high proportion of the property value
• Fees payable to a mortgage broker

For our mortgage services you can choose how we are paid.  You can ask us to charge you a fixed fee, which is usually 0.5% of the loan amount, and refund any commission we receive from the lender to you. Alternatively, we can accept commission paid directly from the lender, or work on a combination of a client fee and commission. More details are given in our Initial Disclosure Document.

There will also be legal fees, unless the lender offers a special arrangement. If you are purchasing a property, Stamp Duty can have a significant impact. This costs 1% of the purchase price, for properties between £120,000 and £250,000; 3% between £250,000 and £500,000 and 4% above £500,000.

As mortgage payments represent a high proportion of outgoings, for many families, there are various protection products, which should also be considered. These include life assurance, critical illness cover and accident, sickness and unemployment cover.

Your home may be repossessed if you do not keep up payments on your mortgage.

For mortgage advice you can choose how we are paid: a fee, usually 0.5% of the loan amount, or we can accept commission from the lender.

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