Mortgage rates and charges

Fees and charges

• Arrangement fees

  Loan type	Total arrangement fee	Arrangement fee capped at	Maximum procuration fee	Procuration fee capped at
  Residential (owner occupied)	0.50%	£50,000	0.40%	£25,000
  Revolving	0.50%	£50,000	0.40%	£25,000
  Buy-to-let	1%	uncapped	0.50%	uncapped
  Self-build	1%	£75,000	0.40%	£25,000

  
  Fees are payable on completion.

   

• Valuation fees

  The standard fees set out below are applicable for all standard instructions and applicable to property located across England. If the property is located in Wales, the instruction will be a non-standard instruction.  

   

  Property value	FEE (EXCL VAT)	Security
  £250,001 - £500,000	£730	- Residential property  - Freehold (Single dwelling only)  - Long and short leasehold  - Share of freehold  - Standard construction (including Grade 1 and 2 listed buildings)  - Non-agricultural use (no agricultural leases)  - New build (off plan)  - Habitable  - Non-standard construction
  £500,001 - £750,000	£930
  £750,001 - £1,000,000	£1,130
  £1,000,001 - £1,500,000	£1,330
  £1,500,001 - £2,000,000	£1,530
  £2,000,001 - £2,500,000	£1,730
  £2,500,001 - £3,000,000	£1,930
  £3,000,001 - £3,500,000	£2,130
  £3,500,001 - £4,000,000	£2,525
  £4,000,001 - £4,500,000	£2,900
  £4,500,001 - £5,000,000	£3,275
  £5,000,001 - £6,000,000	£3,650
  £6,000,001 - £7,000,000	£4,050
  £7,000,001 - £8,000,000	£4,450
  £8,000,001 - £9,000,000	£4,850
  £9,000,001 - £10,000,000	£5,250
  >£10,000,000	Bespoke pricing

   

   

  Security

  Bespoke pricing is applicable for all non-standard instructions. If the loan is for development or commercial purposes, and/or the transaction meets any of the criteria set out below, the instruction will be a non-standard instruction.

  The below provides an indication of types of non-standard instructions yet is not an exhaustive list.

  • Commercial property
  • Self-build property
  • Development property
  • Estimated value of over £10 million
  • Mixed use
  • Used for agricultural purposes
  • Properties with more than 10 acres of land
  • Property located in Wales
  • Multiple titles and/or dwellings

• Solicitor fees

  The Bank will look to use the client’s solicitors for dual representation. In order for them to qualify, they will need to meet the following criteria:

  • Minimum of 3 partners
  • Solicitors PI cover must be a minimum of £2m, but should match the loan value +25%
  • Solicitor firm must be SRA registered
  • They must have completed 120 mortgage transactions in the last 12 months
  • The firm must be on-boarded through LMS (our panel service manager)

  Should they meet this criteria, Investec will issue its instruction at offer stage through the LMS portal. Prior to our instruction, our property due diligence requirements and general instructions are available for solicitors on the UK Finance Handbook page. In order to act on our behalf the solicitors will need to register for our Dual Rep Panel via LMS.

   

  Separate representation fee scale

  Dual representation

  We may be able to use the client’s solicitor to act on behalf of Investec, as well as them during the mortgage application. Please check with us, prior to any instruction any solicitor, to confirm if they are on our panel and can act on our behalf as well as the client’s - please see criteria below.

  The fee the client agrees with their solicitor will cover the work they do on both the client’s and our behalf and will not feature in any mortgage illustration provided by Investec.

  In order for them to qualify, they will need to meet the following criteria:

  • Minimum of 3 partners
  • Solicitors PI cover must be a minimum of £2 million, but should match the loan value +25%
  • Solicitor firm must be SRA registered
  • They must have completed 120 mortgage transactions in the last 12 months
  • The firm must be on-boarded through LMS (our panel service manager)

  Should they meet this criteria, Investec will issue its instruction at offer stage through the LMS portal. Prior to our instruction, our property due diligence requirements and general instructions are available for solicitors on the UK Finance Handbook page. In order to act on our behalf the solicitors will need to register for our Dual Rep Panel via LMS.

  Separate representation fee scale

  If we are unable to use the client’s solicitor to act on our behalf, we will need to appoint our own solicitor to act for us. This is known as separate representation. Where separate representation is chosen or applicable, please find the indicative costs below. These costs will be paid by the client in addition to the cost of your own solicitor.

  Standard instruction

  Defined as a purchase or refinance, for owner occupation or buy-to-let where the transaction falls below:
   

  Borrower	Tenure type	Standard fee (excl VAT and disbursement)	Security	Residency/incorporated
  Individual	Freehold	£1,750	- First legal charge over residential property  - Personal guarantee  - Corporate guarantee  - Debenture  - Charge over cash/shares  - Assignment of rental income	Borrower is resident, domiciled, incorporated or registered in England and Wales, or where legal opinion is not required.
  	Leasehold	£1,950
  Corporate (including SPV)	Freehold	£2,050
  	Leasehold	£2,250
  Trust	Freehold	£2,050
  	Leasehold	£2,250

   

  Costs outside of standard scope:

  • New Builds: +£250 (excl. vat)

  Non-standard instruction

  Non-standard instructions will require a quote and are defined as a loan for development or commercial purposes, and/or the transaction meets any of the criteria set out below:
   

  Borrower	Security	Residency/incorporated
  Individual	- First legal charge over commercial property  - Deed of priority  - Intercreditor arrangement  - Charge over shares	Borrower is not resident, domiciled, incorporated or registered in England and Wales and a legal opinion is required.
  Corporate
  Trust

• Early repayment charges

  An early repayment charge may apply if your client overpays more than their mortgage terms allow, they switch mortgage product or lender during a fixed rate period or they repay their mortgage in full or in part before the mortgage term ends.

   

  	Tracker mortgages		Fixed mortgages
  	2 years	5 years	2 years	3 years	4 years	5 years
  Year one	0.50% BTL only	0.50% BTL only	2%	3%	4%	5%
  Year two			1%	2%	3%	4%
  Year three				1%	2%	3%
  Year four					1%	2%
  Year five						1%