Remortgaging - fees and charges

Because we don't hide our fees and charges, it's easier for you to budget.

You can download a full list of our day to day charges for mortgages here - PDF (92KB)

Upfront Charges

• Reservation fee

  You have the option to take some of our fixed mortgages with or without a non-refundable reservation fee. All our fixed and tracker mortgages are limited offers and may be withdrawn without notice.

  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.

  See fixed and tracker product pages for details of rates and reservation fees.

  A £25,000 minimum borrowing limit applies to all 2 year no fee products.

  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, 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.

  The SMR is currently only available to existing Nationwide mortgage customers reaching the end of their deal period.

  There is no reservation fee payable on our fully flexible mortgage - the Standard Mortgage Rate (SMR).

• Telegraphic transfer fee

  If you or your conveyancer request money to be sent by telegraphic transfer when your mortgage completes, we charge a £20 fee. We may add this fee to your mortgage account.

What we don't charge

• Property valuation

  When you move your mortgage to Nationwide we need to undertake a valuation for our purposes. We do not normally charge for this in standard cases. Occasionally there are exceptional circumstances where a charge may be necessary.

• Higher Lending Charge

  Some lenders impose a Higher Lending Charge if you only have a small amount of equity. At Nationwide, we don't!

• Legal costs

  Moving your mortgage to Nationwide also results in legal costs. Nationwide will normally pay for these. However there are some items that we don't pay for. These include mining or any other unusual search fees, fees for first registration of the title HM Land Registry, dealing with a change of name on the title deeds or a transfer of equity and any additional legal work needed to put your title deeds in order, etc. For leasehold cases, any fees you must pay to the freeholder or management company and any fee for carrying out a company search or obtaining company documentation in respect of the management company are not included. The solicitor we choose will be acting for Nationwide, so if you decide not to use the solicitor selected by us and/or take independent legal advice, this will not be covered under our 'free legal fees' scheme.

Other possible charges

• Arrears fees

  Any charges applied will be added to your mortgage account and interest will be charged on them.

  Arrears fees
  Monthly arrears	£20 per month, per account
  Arrears visit	£95
  Auction entry	£50
  Debt recovery fee	£55
  Default notice (if applicable)	£10 per customer, per account
  Cancelled eviction	£50
  Taking possession	£250
  Referral to solicitor	£70
  Property valuation costs	£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 0800 30 20 10 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 (ERCs) for fixed and tracker rate mortgages

  If you repay the loan or make an overpayment of more than £500 per month within the initial fixed or tracker term, 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 Fixed	3.0%
  2 years Tracker	2.5%
  3 years Fixed	4.0%
  3 years Tracker	3.0%
  5 years Fixed	5.0%

  You may not switch to an alternative Nationwide product before the end of your deal period, except if you have a tracker mortgage and are using the Switch and Fix facility. When your deal ends, you may switch to an alternative Nationwide product, subject to availability and your eligibility at the time.

• 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 Mortgage Exit Administration Fees (MEAFs) for redeemed customers for further information.