Fees & Charges
Product Fees
Accord offers a range of products with differing fees, (including products without fees) to suit different client requirements. Product Fees are payable on completion and can be added to the loan, however, interest will be payable on the fee during the life of the loan. A Mortgage Fee of £90 is payable on redemption of the loan.
Higher Lending Charge (HLC)
Accord Mortgages will pay the Higher Lending Charge on behalf of the borrower for loans up to 90% LTV. HLC is payable by the borrower on loans of 90.01% and above and is calculated from 75% LTV. The HLC can be added to the loan provided that income is sufficient to cover the HLC. HLC is calculated as follows, the minimum charge is £250.
| LTV | Premium Rate |
|---|---|
| 75-80% | 5% |
| 80.01-85% | 6% |
| 85.01-90% | 7% |
| 90.01-95% | 8.5% |
The HLC may be added to the loan, however, interest will be payable on the HLC during the life of the mortgage, plus:
- Income must be sufficient to cover the mortgage and HLC
- If repayment of the mortgage is by pension, endowment or ISA, these must take into account the HLC as well as the mortgage.
- The premium is charged on the whole amount above 75% LTV. E.g. if the valuation is £100,000 and the loan required is £95,000, the premium will be charged on £20,000 cover at 8.5% = £1,700
Valuation Fees
Accord's fees are shown in the table below. Once a valuation has been carried out, the fee will not be refunded in the event that the mortgage does not proceed.
|
Valuation not exceeding |
Mortgage Valuation | Home Buyer Survey and Valuations |
|---|---|---|
| £100,000 |
£230 |
£405 |
| £150,000 |
£260 |
£440 |
| £200,000 |
£290 |
£490 |
| £250,000 |
£320 |
£540 |
| £300,000 |
£350 |
£600 |
| £350,000 |
£410 |
£650 |
| £400,000 |
£410 |
£700 |
| £450,000 |
£470 |
£750 |
| £500,000 |
£470 |
£800 |
| £550,000 |
£530 |
£850 |
| £600,000 |
£530 |
£900 |
| £650,000 |
£590 |
£950 |
| £700,000 |
£590 |
£1,000 |
| £750,000 |
£650 |
£1,050 |
| £800,000 |
£650 |
£1,100 |
| £850,000 |
£710 |
£1,150 |
| £900,000 |
£710 |
£1,200 |
| £950,000 |
£770 |
£1,250 |
| £1,000,000 |
£770 |
£1,300 |
| £1,200,000 |
£890 |
£1,500 |
| £1,400,000 |
£1,010 |
£1,700 |
| £1,600,000 |
£1,130 |
£1,900 |
| £1,800,000 |
£1,250 |
£2,100 |
| £2,000,000 |
£1,370 |
£2,300 |
For the purchase price/valuation in excess of £2,000,000 please contact us. The fees shown include VAT and a £90 administration charge. If a re-inspection is required, an additional fee of £40 will be charged for each re-inspection.
