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Our mortgage fees and charges

We’ve laid everything out clearly and simply, so you'll know exactly what to expect.

About our tariff of charges

Our tariff of charges

Tesco Bank is closely involved in the mortgage industry's initiative with the Council of Mortgage Lenders and Which? to make our fees and charges easy for you to understand.

Our tariff of charges fully reflects the initiative's good practice principles. This same document is being used across the industry to help customers compare mortgages.

When looking at the fees that other firms charge, you may notice that some don't appear in our tariff. This means we don't charge you these fees.

Before you start your mortgage

These are the fees and charges you may have to pay before we transfer your mortgage funds.

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. It might be a flat fee, or a percentage of the loan amount.

This charge varies by product. Please refer to your mortgage illustration.

CHAPS fee

Some lenders may call this a funds transfer fee.

This charge is for electronically transferring the mortgage funds to you or your solicitor.

The standard CHAPS fee is £25.

Re-inspection fee

This charge covers if we need to get the property re-inspected after the original valuation.

The standard re-inspection fee is £50.

Re-type fee

If we are able to accept a valuation that you’ve already had carried out, this fee covers the cost of us copying that valuation report to our records

The standard re-type fee is £50.

Valuation fees

The lender’s valuation report, which is used to calculate how much it will lend you. This is separate from any valuation or survey of the property you might want to commission.

The standard valuation fee payable will be based on your estimate of the property's value so it's important to get it as accurate as possible.

There are other homebuyers or structural survey options available to you at a cost and 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.

Property valueBasic valuation
Up to £100,000£230
£100,001–£200,000£275
£200,001–£300,000£325
£300,001–£400,000£385
£400,001–£500,000£415
£500,001–£600,000£450
£600,001–£700,000£495
£700,001–£800,000£535
£800,001–£900,000£575
£900,001–£1,000,000£620
£1,000,000+£685

Legal and conveyancing fees

House purchase

When you buy a new home you need to pay a conveyancer to complete the legal work required. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place.

Remortgage

If you're remortgaging with us we'll meet the standard legal costs. We work with LMS, who specialise in managing law firms for conveyancing transactions. We will pass them your details and they will be in touch shortly.

If any additional legal work is needed - for example, adding/removing a party from the title or if your property is currently on the Sasine Register in Scotland - then you'll need to pay for this yourself. Also, if any non-standard costs are incurred - for example, fees for meeting notice requirements to landlords of leasehold properties - you'll need to pay for these. LMS will advise you of any such additional costs. You'll also need to pay for the legal costs incurred where, for whatever reason, you don't complete your mortgage.

Unencumbered and unregistered properties

If you don’t have a mortgage on your property at the moment but want to release equity, or if your property is not registered with the land registry, we’ll instruct LMS to act on our behalf and they’ll be in touch with you shortly. But be aware that you’ll need to meet the legal costs yourself.

If you want extra documentation or services

Duplicate/interim statement fee

This is charged on request for a copy of a previous mortgage statement or an interim statement of your account as it stands. It might be paid by you or another lender.

The standard duplicate/interim statement fee is £10.

Copy of deeds and releasing title deeds

Some lenders may call this a request for legal documentation.

This charge is for any original documents relating to your mortgage, like title deeds, that you ask for.

The standard charge for a copy of deeds and releasing title deeds is £20.

Certificate of interest paid

Some lenders may call this a duplicate request for certificates of interest paid.

This is charged on request for a copy of a previously issued certificate of interest paid.

The standard request for a certificate of interest paid is £15.

Data subject access request

This fee covers the cost of providing you with a copy of the personal information that we hold about you.

The standard fee for a data subject access request is £10.

If you change your mortgage

If you change to a new mortgage product, 'before you start your mortgage' fees may also apply at this stage.

Early repayment charge (changing your mortgage)

You may have to pay this charge if:

  • You overpay more than your mortgage terms allow
  • You switch mortgage product or lender during an initial rate period (e.g. while you're on a fixed or tracker interest rate).

The early repayment charge for redeeming your mortgage varies dependent on when you redeem and the outstanding balance at that time.

Term adjustment fee

Some lenders may call this a change of term fee.

This charge is to extend or reduce the remaining term of your mortgage.

The standard charge to extend or reduce the remaining term of your mortgage is £25.

Partial release of property fee

This charge is payable if you want to remove part of the property or land from the mortgage. It covers administration costs, including sealing the relevant legal deed and issuing letters of consent.

The standard charge for a partial release of property is £55.

Adding or removing borrowers

Some lenders may call this a change of parties administration fee.

This charge covers our administrative costs of adding or removing someone (a 'party') from the mortgage.

The standard charge to add or remove borrowers is £100.

Letting out your property annual fee

Some lenders may call this a consent to let fee.

This charge applies if you want to let your property but don't have a buy-to-let mortgage. You'll need to pay this for each 'consent to let' agreement, where we agree to you letting out your property for a set period within your existing owner-occupier mortgage. At Tesco Bank this is an annual fee.

The standard annual charge to let out your property is £30.

Second charge fee/lender questionnaire fee

Some lenders may call this giving you a reference.

This charge applies if another lender asks us for a mortgage reference, such as how you have managed your mortgage account with us. We will only supply this if you have given us permission.

The standard second charge fee/lender questionnaire fee is £25.

When you end your mortgage with us

Early repayment charge (ending your mortgage)

This charge is payable if you repay your mortgage in full before the mortgage term ends.

The early repayment charge for redeeming your mortgage varies dependent on when you redeem and the outstanding balance at that time.

Redemption administration fee

Some lenders may call this a mortgage exit fee.

This charge may apply if:

  • Your mortgage term comes to an end
  • You transfer the loan to another lender
  • You transfer borrowing from one property to another

This is payable either at the end of the mortgage term, or before the end of your mortgage term if you transfer the loan to another lender or another property (known as 'redemption').

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

The standard redemption administration charge is £90.

If you can’t pay your mortgage

These are the most common charges you may have to pay if you fail to keep up with your mortgage payments. Some charges - for example those covering unpaid or returned direct debits or cheques - occur at the early stages of your inability to pay (arrears). Other charges, for example relating to our repossession of the property, may apply later in the process and will be dependent on your circumstances.

If you are having financial difficulties, get in touch with us as soon as you can, so we can try to help you get back on track.

Unpaid or returned direct debit or cheque

This charge is payable when your nominated bank rejects a direct debit collection, or your payment by cheque is returned unpaid by your bank.

The standard charge for an unpaid or returned direct debit or cheque is £10.

Monthly arrears charge

Some lenders may call this an arrears fee.

This charge may occur on a monthly basis, or when specific events happen in the management of your account when you are in arrears. This covers charges in respect of your account if you fall behind with your payments.

The standard monthly arrears charge is £20.

Field agency home visit fee

This charge is payable if you've asked for someone to visit you and arrange a repayment programme or if we've sent someone because we haven't been able to contact you.

The standard charge for a field agency home visit is £80+VAT.

Solicitor instruction fee

This charge covers the initial cost to us of instructing solicitors to recover arrears on our behalf.

The standard charge for a field agency home visit is £45.

Possession fee

This charge covers our costs for taking possession of your property.

The standard possession charge is £200.

Possession insurance fee

This charge covers the cost of us insuring your property while we have possession of it.

The charge for possession insurance is variable.

Summons fee

This charge is for the issue of a formal legal document to the court requesting that legal action be commenced and a hearing date be set.

The standard summons charge is £100.

Asset management fee

This charge is payable for the instruction of, and associated work carried out by, an asset manager on our behalf, for example valuing and arranging the sale of your property.

The asset management charge is variable.

Solicitor's litigation and conveyancing costs

This charge covers the cost of a solicitor's work in repossessing and selling your property.

The solicitor's litigation and conveyancing charge is variable.

Payment of ground rent or service charge fee

This charge is applicable if your property is leasehold, and we're asked to pay ground rent or a service charge (under the terms of ownership) because you've not met that cost. We'll add the amount of ground rent or service charge we've paid to your mortgage and charge you this fee to cover the cost of work.

The standard charge for ground rent or service charge is £40.

Download this PDF if you want to keep a copy of this information.

Your home may be repossessed, as a last resort, if you do not keep up repayments on your mortgage.

View our mortgage rates

Contact us - we're here to help

Need a few questions answered? Want to chat rather than scroll? Our UK-based teams are here to talk to you six days a week. Lines are open Monday to Friday 8am-9pm and Saturday 9am-4pm.

Call 0345 217 2050* to chat about new mortgages.

* These numbers may be included as part of any inclusive call minutes provided by your phone operator.