Getting into arrears with your mortgage is always bad news, and unfortunately lenders generally show no mercy, punishing borrowers who get behind with a wide variety of extra fees. A few examples are:
- Mortgage arrears fees (monthly, whilst in arrears)
- Arrears Breakdown Fee (a statement detailing your arrears)
- Solicitors Letter & Instruction Fees
- Auction Attendance Fee (if your home is repossessed)
- Possession Fee (if your home is repossessed)
- County Court Fees
- Unpaid Building Insurance Fee
- Unpaid Direct Debit & Unpaid [bounced] Cheque Fees
- Interim or Duplicate Mortgage Statement Fee
- Mortgage Balance Breakdown Fee
Fees for Changing Your Mortgage
Sometimes you will want or need to make some changes to your mortgage policy whilst it is still running.
The following fees cover some of those scenarios. Whether it is letting out your property, selling some of your land, or adding someone’s name to the mortgage, there is often a fee:
- Tenancy Request Fee, Consideration of Letting Fee
- Part Sale of Land Fee
- Transfer of Equity Fee (adding/removing someone from the mortgage)
- Deeds Release Fee (if needed for temporary inspection)
- Second Charge Fee/Mortgage Reference (if you are securing further borrowing on your property)