Mortgage fees and charges

• Funds transfer fee – known as a Telegraphic Transfer Fee at Nationwide. This fee is for electronically transferring your mortgage funds to you or your solicitor using telegraphic transfer (CHAPS). The fee is £15. This can often be done for free via a BACs payment, but the transfer will take three working days.
• Legal fee – You’ll normally instruct a solicitor to act on your behalf in connection with your transaction. You may be required to pay legal fees and costs as part of their work on your behalf. These fees/costs are normally charged by the solicitor directly to you, unless we tell you that we’ll contribute to the legal costs as part of your deal. Your solicitor will confirm the cost.
• Product fee – This is charged on some mortgages as part of the deal. It can be paid up-front or added to the total mortgage amount. If you add it to your mortgage, you’ll pay interest on it at the same rate as the rest of your borrowing.
• Valuation fee – the valuation fee report is used to calculate how much we’ll lend you. This is separate from any valuation or survey of the property you might want to commission.

There are other home or structural survey options available to you. There may be different approaches in different parts of the UK.

Some mortgages offer free valuations. The product details for your mortgage will tell you if this is the case.

There are 2 types of valuation you can get:

• Standard valuation – Nationwide charges no fees for this basic valuation of your home.
• Home Surveys – fees vary. Find out more about home survey fees.

These fees apply for any extra processing or unpaid charges.

These are charged if you fail to pay your ground rent or service/maintenance charges and cost £65.

• Early Repayment Charge – you may need to pay an Early Repayment Charge when you change or end your mortgage term early, either by switching to a new deal or paying off your mortgage early. Find out more about Early Repayment Charges.
• Consent to let – there is no fee for getting permission to let your property, but please note there will be an extra 1% added to your existing interest rate.
• Change of borrower – there is a fee of £125 for adding or removing a party from your mortgage.

• You transfer your mortgage loan to another lender, or
• You pay off your mortgage in full, more than 10 years before the end of your term, or
• when moving your current mortgage deal to a new home (porting) and there is a delay between the sale of your existing property and the purchase of your new property. In this case, we’ll refund any applicable fees on completion of your new property purchase, providing this is completed within the offer validity period.

Please note, if you need to change the details of your application after the sale of your property has completed, you won’t be able to port your existing mortgage product to your new property and you’ll need to choose a new mortgage product. This means any fees you’ve paid when you closed your existing account won’t be refunded. The fee for this is £65. The fee quoted applies to mortgage contracts taken after 1 May 2005. For all other customers the fee charged will depend on when the mortgage was entered into. Any fee that applies will be stated in your mortgage offer.

You may also be charged a separate fee by your solicitor or licensed qualified conveyancer for their work relating to redemption of the mortgage and discharge of the security.