| Higher Lending Charge |
|
The Higher Lending Charge is applicable whenever the mortgage advance exceeds the Society's normal lending limit of 75% of the purchase price or valuation whichever is the lower. The charge is calculated as a percentage of the amount in excess of 75% of purchase price or valuation. The charge will only be paid by the customer where the loan to value is greater than 90%. The Society will pay the charge on the customers behalf where the loan to value is less than 90%.
|
| Mortgage Advance (% Loan to Value) |
Charge |
| 75 - 80% |
£4.5% |
| 80.01 - 85% |
£5.5% |
| 85.01 - 90% |
£6.5% |
| 90.01 - 95% |
£8.5% |
|
Tariff of Charges
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
