Fees and Charges
For a full list of our possible mortgage charges and a description of when these apply, download our Tariff of Charges (PDF 64 KB). You will find a summary of these below.
If you would like to see what fees and charges may apply during your mortgage term as a particular borrower type or to a specific situation, please select from the following drop down menu.
| Moving Home - fees and charges at a glance |
|---|
|
Booking fee Product fee Telegraphic transfer fees Valuation fee Legal fees |
| Remortgaging - fees and charges at a glance | |
|---|---|
| Not charged | |
|
Booking fee Product fee Telegraphic transfer fees |
Valuation fee Legal fees |
| Borrowing more - fees and charges at a glance |
|---|
| Product fee |
| Switching deal end - fees and charges at a glance |
|---|
| Product fee Early Repayment Charges |
| Making an overpayment - fees and charges at a glance |
|---|
| Early Repayment Charges |
| Once your account is open - fees and charges at a glance | |
|---|---|
| Arrears fees Change to mortgage term or repayment method Early repayment charges Letting fee and additional interest rate |
Redemption charge Release of part of the property/land Statement projection Unpaid items fees |
Definitions
- 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 (if no agreement is made and maintained to repay the outstanding balance). Arrears visit £100 Auction entry £60 Default notice (if applicable) £13 per customer, per account Cancelled eviction £64 Possession fee £500 Referral to solicitor £81 Property valuation costs £80 If you run into difficulties with your mortgage repayments it is important to contact us 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.
- Booking fee
- A non-refundable booking fee of £99 is payable upfront upon reservation of any product.
- Change to mortgage term or repayment method
- If you want to change your mortgage term or repayment method, the following fees will apply and will be added to your mortgage account if your request is approved.
Change to mortgage: Change to repayment method £50 Change to term £20 - Early repayment charges (ERCs) for fixed and tracker rate mortgages
- If you repay the loan or make an overpayment of more than £500 in a month within the initial fixed or tracker term, an early repayment charge will be payable on the entire overpayment amount (you can overpay by up to £500 in a month without incurring any ERCs).
You will also incur an ERC if you want to switch your deal within 3 months before your deal term ends. You cannot switch your deal prior to this unless you have a tracker mortgage and choose a product from our Switch and Fix range, or if you have a deal with no ERCs.
Existing Customers
Our ERCs have changed over time, so for information about the ERCs that apply to your existing mortgage please refer to your mortgage offer.New Customers
The ERC payable depends on the type of mortgage you have and is detailed in the table below.Please note: some of our mortgages have no ERCs and allow unlimited overpayments. These are indicated in the rates tables with a
icon.
Deal Term Percentage Payable 2 year Fixed 3.0% 2 year Tracker 2.5% 3 year Fixed 4.0% 3 year Tracker 3.0% 5 year Fixed 5.0% 5 year Tracker (No ERC) 0.0% - Higher Lending Charge
- Some lenders impose a Higher Lending Charge if you only have a small deposit. At Nationwide, we don't!
- Legal costs for home movers
- When you purchase a property and apply for your mortgage you'll need a solicitor or licensed conveyancer to handle the legal work involved. In most cases, we will also instruct the same solicitor to act for Nationwide. In addition to paying your own legal fees, you will also be liable for our legal costs which will be detailed separately on the invoice from your solicitor.
In addition to the legal fees above, your solicitor will have to be reimbursed by you for various charges incurred on your behalf, such as fees for searches and Land Registry registration fees. These charges are referred to as disbursements.
- Legal costs for remortgagers
- 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.
- Letting fee and additional interest rate
- If you already have a mortgage with us and want to start renting out your property, you will need to fill out a permission to temporarily let application form (PDF 109KB)
If you are granted permission to let, you will be charged a fee of £50 and an additional 1.5% will be added to your mortgage accounts. Find out more about the letting application fee and additional interest rate.
If we discover you are letting your property without permission you will also be charged a fee, dependent upon your individual circumstances.
- Product Fee
- For mortgages reserved on or before 3rd March 2010, this was known as a reservation fee.
You have the option to take some of our fixed mortgages with or without a product fee. All our fixed and tracker mortgages are limited offers and may be withdrawn without notice.
If you choose the no product fee option you will pay a higher rate of interest over the deal period compared to the product fee option. Some mortgages are available with a reduced product fee, as indicated in the rates tables.
If you choose the option with a product 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 product fee products.
If you are taking out a number of products on the same property where product fees apply, e.g. a fixed rate mortgage and a further advance, then only one product fee is payable provided the products are taken out simultaneously. If the products with product fees are not taken out simultaneously, then the individual product 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 product fee payable on our fully flexible mortgage - the Standard Mortgage Rate (SMR).
- 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.
- Release of part of the property/land
- If you want to release part of the property/land currently mortgaged to Nationwide, we charge a non-refundable fee of £75.
- Reservation Fee
- See Product Fee
- Statement Projection
- If you want to request details of how an account would vary if the payment or term were changed, or if you need a projected balance, we charge a fee of £20. This fee is charged for each account that the projection is based upon, for example if you request a projected balance on 3 accounts a fee of £60 will apply (£20 for each account).
- Telegraphic Transfer fee
- If you or your convyeyancer request money to be sent by telegraphic transfer when your mortgage completes, we charge a fee of £25.
- Unpaid items fees
-
Any charges applied will be added to your mortgage account and interest will be charged on them.
Unpaid items fees Unpaid cheque £27.50 Unpaid Direct-Debit £27.50 Unpaid ground rent £30 - Valuation fee
- When you apply for a mortgage we may ask you to pay a valuation fee to cover the cost of valuing your property. The valuation fee is payable prior to valuation and is non-refundable if the valuation is carried out. The valuation is very basic and is carried out for our benefit. We strongly recommend that you have a more thorough survey undertaken, such as a homebuyers report. This will tell you about the quality and condition of the house you want to buy. There is an additional fee for this service, which can be arranged through Nationwide. The table below shows the cost of arranging a valuation or homebuyer report.
Fees effective from 1 Jan 2010
Purchase Price Mortgage valuation fees Homebuyer report fee (inc. mortgage valuation fee) Up to £50000 £240 £380 Up to £100000 £275 £450 Up to £150000 £300 £500 Up to £200000 £340 £560 Up to £250000 £385 £635 Up to £300000 £445 £670 Up to £350000 £470 £735 Up to £400000 £470 £790 Up to £450000 £545 £845 Up to £500000 £545 £890 Up to £600000 £580 £945 Up to £700000 £650 £985 Up to £750000 £715 £985 Up to £800000 £715 £1030 Up to £900000 £780 £1080 Up to £1000000 £840 £1170 Up to £1500000 £955 By negotiation Up to £2000000 £1135 By negotiation Up to £2500000 £1320 By negotiation Up to £3000000 £1535 By negotiation The valuation fees above include a Nationwide administration charge of £80.
If you are remortgaging your existing property, we will still 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.
For a full list of our possible mortgage charges and a description of when these apply, download our Tariff of Charges (PDF 64KB).
Fees and Charges FAQs
-
Where a fee has been added to your loan this will increase your balance and you will pay interest on the fee amount, therefore if you would prefer you can make a payment to your mortgage account for the appropriate amount.
You can make a one off payment by Direct Debit, cheque or cash at any of our branches or you can post a cheque to us. Please make your cheque payable to Nationwide Building Society followed by your name and mortgage account number and send it to: Nationwide Building Society, Mortgage Servicing, Kings Park Road, Moulton Park, Northampton NN3 6NW.
-
If you are facing payment difficulties (even if you are not yet in arrears) please talk to us as soon as possible on 0845 600 9626.
-
No, only one fee will be charged as long as the request is made for the same amendment, at the same time. For example if you request to amend your term on two mortgage accounts, only one fee is payable as long as the requests are made on the same day. However if you request your term be changed on one mortgage account one day and then request the term to be changed on your other mortgage account a week later, two separate fees will be charged.