If you’re buying a new home, moving to a C&G mortgage from another lender or are an existing C&G or Lloyds TSB mortgage customer borrowing more you may be charged some of the fees below. Speak to one of our mortgage experts to find out which fees would apply to you.
You may need to pay this fee which covers the setting up, routine maintenance and closing down of the mortgage account. It is fixed and cannot be changed without your agreement. The fee will be paid on completion out of part of your loan but interest will not be charged on this part of the loan. Part of each monthly payment you make will be used to repay the mortgage account fee so that it is repaid over the term of your mortgage.
Mortgage account fee £265
You may need to pay this non-refundable fee when you apply for your mortgage. The fee is valid for 12 months, so if your application doesn’t go ahead for any reason, you can put in another application within 12 months and you won’t have to pay another application fee. This fee is not applicable if you already have a C&G or Lloyds TSB mortgage and are not moving home, just switching deals.
Application fee £99
With some of our mortgage deals there's a product fee to pay, with others there isn't. Usually, there's a choice, and you can get a lower rate in return for paying a fee or no fee and a higher rate.
Where a product fee applies, it will be added to your new mortgage. You can then pay the fee off if you want to, or leave it on your mortgage to spread the cost. If you pay it off within 30 days of the start of your mortgage, no interest will be charged on it. If you leave it on your mortgage, interest will be charged on it as part of your main mortgage.
Please see the specific product page for the options available.
You'll need to pay a valuation fee if you're moving home or you're switching your mortgage from another lender and the loan is for £1,000,000 or more.
The amount of the fee depends on the value of the property. This needs to be paid when you apply. Once the valuation has been carried out, the fee can't be refunded.
Valuation fee - £225 - £1,150 depending on the type of mortgage you take and the value of your property.
For properties worth over £1.5 million, please contact your local branch or call us on 0800 028 0639*
If you are taking out a mortgage to buy your home or to raise capital, we will usually arrange for a surveyor to prepare a Valuation Report on the property. This is a very brief report on the property’s condition and its market value based on a limited inspection of the readily visible and accessible parts. You will be sent a copy, but it’s important to understand that the report is not a detailed survey – it is just for the lender’s purposes to help them assess if the property is adequate security for the money you want to borrow.
There is normally a fee for a Valuation Report which you will need to pay when you apply for your mortgage.
We recommend that you arrange a more detailed report into the property’s condition than the Valuation Report. We’ve outlined the other types of report available below. If you want to arrange one of these, your mortgage expert will be happy to discuss it with you.
A Survey and Valuation Report is for you and neither we nor the lender receive a copy of the survey. It is produced in an easy-to-follow format and will give you guidance on defects and other issues that should help you in your decision to buy. There is a set fee for a Survey and Valuation depending on the value of the property.
This is an even more detailed report on the property, which can be tailored to fit your requirements. Again, the building survey is just for you – neither we nor the lender receive a copy.
If you choose a Building Survey and Valuation, you will have to agree the additional fee for the Building Survey with the surveyor.
Because both a Survey and Valuation, and a Building Survey and Valuation are just for you, the surveyor will send the appropriate terms of engagement direct to you for you to read, sign and return to them.
Sometimes investigations reveal structural defects in the property. If that happens the loan may not be released until the defects have been rectified. You may have to pay re-inspection fees if it is decided that further inspections by the valuer are needed before all the mortgage money can be released.
If you are remortgaging we will arrange a property assessment for the lender’s purposes based on the information you give us. You must not rely on the fact that a loan is agreed as any indication of the value of the property. You may want to get your own valuation advice.
If you're buying a new home, switching to a C&G mortgage, or you already have a C&G or Lloyds TSB mortgage and are now borrowing more, you may need to pay a non-refundable fee for the transfer of money when your mortgage starts.
The fee will be added to your mortgage and interest charged at the rate of the main loan. If your mortgage is split across different deals, the interest on the fee amount will be the same as the interest rate of your main loan account.
Transfer of funds fee - £35
If you’re remortgaging and your mortgage is between £5,000 and £999,999, as part of your C&G remortgage package the standard legal work will be carried out for you free of charge.
By standard legal work we mean the legal work that relates to the lender’s financial interest in the property. Normally you’d need to arrange for and pay a conveyancer to do this work, but provided you’re happy for it to be carried out by one of the firms of conveyancers who are authorised to do free legal work for C&G remortgages, it can be arranged at no cost to you.
There are some occasions even with a standard remortgage when there could be additional legal costs which you would have to pay. For example, there could be an insurance premium if a defective title or insolvency policy to protect the lender’s security is required, or a Land Registry fee if your property is currently unregistered. The conveyancers will let you know if anything like this applies to your remortgage.
In addition to the standard legal work, it may be that there’s some extra legal work that you need to have done in relation to your remortgage or the property, as opposed to the work relating to the lender’s financial interest. If there is, we offer a fixed-price service that covers the most common transactions. If you need additional legal work done, here’s the work the free legals conveyancers can do for you at the same time as doing the free standard remortgage work, and the fees:
Of course, you are free to arrange for your own conveyancer to do any legal work that’s required if you want to, and it may be that you need some legal work done that isn’t included in our service, in which case you will have to instruct your own conveyancer. You will also need to make your own arrangements if the property is in Northern Ireland.
Once you’ve applied for a mortgage, you’ll need to appoint a solicitor or licensed conveyancer if you haven’t already done so to deal with all the legal aspects. Find out more.
In return for the benefits offered by some C&G mortgages, the loan may carry a charge if you repay all or part of it in the early years or switch to a different mortgage - these are called early repayment charges.
The limit on any extra payments you can make each year before the charge applies is 10% of the mortgage balance. This means if you have a mortgage subject to an early repayment charge you can pay up to 10% of your mortgage balance before incurring the charge, unless you go on to repay or change the rest of the loan within the next six months. The charge varies, depending on how long you have left on your mortgage deal.
The 10% overpayments limit is a concession and could be withdrawn at any time.
If you move home, you may be able to take the terms of your current mortgage deal with you. This could be so you continue to benefit from a particular deal you took out, such as a fixed rate or tracker that you want to keep until the end of the original period of the deal, or avoid having to pay an early repayment charge.
Taking your current deal with you means that, when you repay the mortgage on your current home to move you take out a new mortgage on your new home for at least the same amount.
In other words, any fixed rate or tracker would continue to apply for the remainder of the original deal period; and, if there’s an early repayment charge on your mortgage, you won’t have to pay it. The charge would still apply though if, after you’d moved, you subsequently repaid the mortgage (or more than 10% of it) while you were still benefiting from the fixed rate or tracker.
Before you can take an existing deal with you, Lloyds TSB will still need to be satisfied that you can afford the repayments on the mortgage for the new property and any conditions set out in the mortgage offer are met.
To find out what terms apply to you either check your mortgage offer or speak to a mortgage expert.
Once your mortgage is up and running, if you ask for a service that is not routinely provided for all customers, a charge may be made. The list below shows the current charges for the most frequently requested additional services. Occasionally, a charge will be made for a service which is not listed here. If you ask for such a service, you will always be told if there is a charge and how much it will be.
If a charge applies, it will be added it to your mortgage account. You can repay the charge in full immediately, or leave it on your account. If you leave it on your account, it will show separately on your mortgage statement and we may apply interest.
We will send you a tariff of our fees each year (except where there have been no changes). We will also notify you of any changes in fees at the time when you ask for or receive the service for which we charge a fee.
Our current fees are set out in the section below.
| Description | Amount | The charge is made |
|---|---|---|
| Copies of title deeds | £17.50 | For supplying full photocopies of title documents, plans, etc. |
| Deeds information | £5 | For providing a single copy document or provision of title information. |
| Consenting to transaction | £75 | For example, release from the mortgage or part of the property, grant of easement (for example, a right of way) or consent to legal documents. |
| Account reference | £100 | Completing questionnaires or references about your mortgage sent to us by other lenders. |
| Unpaid charges | £75 | If we have to make a payment of ground rent/service charges/shared ownership rent which you have not paid. This is in addition to the payment itself which will be added to your mortgage account. |
| Closing administration charge* | £50 | When you repay your mortgage. |
*This charge applies only to certain mortgages and may vary depending on your circumstances. In particular, it does not apply to mortgages entered into on or after 1 August 2007. The amount shown is the most the charge might be. If you think a charge might apply to you and want to know the amount, please ask one of our mortgage experts.
Please remember that it may also be part of your mortgage loan agreement that an early repayment charge is payable if you repay all or part of the loan, or change its terms, within the first few years. Please check your loan agreement or subsequent documentation for details.
| Description | Fee | This charge is made |
|---|---|---|
| Arrears management fee | £35 | Where it is necessary to write to you, a management fee will be charged. |
| Solicitors' repossession instruction | £125 | If solicitors are instructed to collect arrears or seek possession of your property. |
| Repossession fee | £350 | If Lloyds TSB take the mortgaged property into possession. |
As well as the above fees, you would also have to pay any costs to third parties who may be asked to recover any money you owe, or to create or protect the security, or to carry out legal work. For example:
We will write to tell you before a third party is asked to act.
If something in your life is changing and it could make paying your mortgage difficult, please contact your local C&G branch or call our helpline as soon as you can. It's always best to do this before missing a payment rather than afterwards. Dealing with financial difficulties at an early stage usually makes problems easier to solve.
You can talk to us in confidence and our staff will give you every possible assistance, including practical advice and information on areas such as state benefits (where appropriate).
If you think you may be facing difficulties but have not yet fallen behind with your mortgage payments, please call us on 0845 603 1637*
If you have already fallen behind with your payments, please contact us on 0800 3894 020*
