Fees & charges
Because we don't hide our fees and charges, it's easier for you to budget.
Reservation fee
You have the option to take some of our fixed and tracker mortgages with or without a non-refundable reservation fee. All our fixed and tracker mortgages are limited offers and may be withdrawn without notice.
The current reservation fee options are shown in the table below.
Fixed rate mortgages
|
Product |
Reservation Fee |
|---|---|
|
2 Year - No Fee |
£0 |
|
2 Year - Option A |
£599 |
|
2 Year - Option A |
£999 |
|
3 Year |
£599 |
|
5 Year - Option A |
£599 |
|
5 Year - Option B |
£1,999 |
|
10 Year |
£599 |
|
25 Year |
£599 |
Tracker mortgages
|
Product |
Reservation Fee |
|---|---|
|
2 Year Option A |
£599 |
|
2 Year Option B |
£1,999 |
|
3 Year |
£599 |
|
Lifetime |
£599 |
A reservation fee may be payable depending on the product selected. Some tracker and fixed rate products are available with or without a non-refundable reservation fee. If you choose the no reservation fee option you will pay a higher rate of interest over the deal period compared to the reservation fee option. If you choose the option with a reservation fee you can pay this when you apply or you can add it to your loan. If you add this fee to your loan you will be charged interest on it during the term of the loan.
A £25,000 minimum borrowing limit applies to all 2 year no fee products.
Alternatively, if you choose the no reservation fee option you will pay a higher rate of interest over the deal period. Your fixed or tracker mortgage will be reserved once we receive your application form.
If you are taking out a number of products on the same property where reservation fees apply, e.g. a fixed rate mortgage and a further advance on a tracker rate, then only one reservation fee is payable provided the products are taken out simultaneously. If the products with reservation fees are not taken out simultaneously, then the individual reservation fees apply to each product.
There is no reservation fee payable on our fully flexible mortgage - the base mortgage rate.
Arrears fees
Charges which may apply depending on the conduct of your mortgage account
Any charges applied will be added to your mortgage account and interest will be charged on them.
| Arrears fees | |
|---|---|
| Monthly arrears | £20 per customer, per account |
| Arrears visit | £95 |
| Auction attendance | £50 |
| Debt recovery fee | £55 |
| Default notice (if applicable) | £10 per customer, per account |
| Eviction cancellation | £50 |
| Letter before legal action | £10 per contact address |
| Possession fee | £250 |
| Solicitor's instructions | £70 |
| Valuation (for possession purposes) | £144 |
| Unpaid items fees | |
|---|---|
| Unpaid cheque | £27.50 |
| Unpaid Direct-Debit | £27.50 |
| Unpaid ground rent | £30 |
If you run into difficulties with your mortgage repayments it is important to contact us on 08457 302010 straight away so we can help to resolve any financial problems that you might be facing. The sooner we understand your situation, the sooner we can help.
Early repayment charges for fixed rate and tracker mortgages
If you repay the loan or make an overpayment of more than £500 per month within the initial fixed or tracker term, within the first 5 years of a Lifetime tracker, or within the first 10 years of the 25 year fixed rate, an early repayment charge will be payable on the entire overpayment amount. The percentage charge payable is detailed in the table below.
| Deal Term | Percentage Payable |
|---|---|
| 2 years (tracker) | 1.5% |
| 2 years (fixed) | 2.0% |
| 3 years (tracker) | 1.5% |
| 3 years (fixed) | 4.0% |
| 5 years | 5.0% |
| 10 years | 6.0% |
| 25 years | 6.0% |
| Lifetime | 3.0% |
Redemption charge
If you enter into a new mortgage with Nationwide and subsequently repay your mortgage more than ten years before the natural term, you will pay a charge (currently £90) unless you are taking a new Nationwide mortgage at the same time.
Read Nationwide's policy on redemption charges (MEAFs) for redeemed customers for further information.
Tariff of mortgage charges
You can download a full list of our administration charges for mortgages here - PDF (92KB)