Fees & Charges
Product Fees
Accord offers a range of products with differing fees, (including products without fees) to suit different client requirements. Product Fees are payable on completion and can be added to the loan, however, interest will be payable on the fee during the life of the loan. A Mortgage Fee of £90 is payable on redemption of the loan.
Product Switching Fee
We've introduced a Product Switching fee, which is £90. The fee is for changing products prior to completion and is payable at the point of switching. It covers part of the costs incurred when the product applied for is reserved and is payable each time the product is changed before completion.
Mortgage Application Processing Fee
We've introduced a Mortgage Application Processing fee, which is £130. This fee is usually payable as part of the full mortgage application process and is non-refundable.
Higher Lending Charge (HLC)
Where a loan exceeds 75% of the purchase price or valuation (whichever is the lower) there is increased risk to us. To cover us against this risk, a Higher Lending Charge (HLC) is payable. This charge will be paid by Accord Mortgages. Even though we will pay a HLC, your client is still responsible for the money they owe, including any shortfall.
Valuation Fees
Accord's fees are shown in the table below. Where the valuation fee has been paid, we will instruct the valuation as soon as we begin to process your application - unless you advise us otherwise. Once a valuation has been carried out, the fee will not be refunded in the event that the mortgage does not proceed.
| Valuation not exceeding | Mortgage Valuation | Home Buyer Survey and Valuations |
|---|---|---|
| £100,000 | £145 | £325 |
| £150,000 | £175 | £360 |
| £200,000 | £205 | £410 |
| £250,000 | £235 | £460 |
| £300,000 | £270 | £525 |
| £350,000 | £330 | £575 |
| £400,000 | £330 | £625 |
| £450,000 | £390 | £675 |
| £500,000 | £390 | £730 |
| £550,000 | £450 | £780 |
| £600,000 | £450 | £830 |
| £650,000 | £515 | £880 |
| £700,000 | £515 | £930 |
| £750,000 | £575 | £985 |
| £800,000 | £575 | £1,035 |
| £850,000 | £635 | £1,085 |
| £900,000 | £635 | £1,135 |
| £950,000 | £695 | £1,185 |
| £1,000,000 | £695 | £1,240 |
| £1,200,000 | £820 | £1,440 |
| £1,400,000 | £940 | £1,645 |
| £1,600,000 | £1,065 | £1,850 |
| £1,800,000 | £1,185 | £2,055 |
| £2,000,000 | £1,310 | £2,260 |
| £2,200,000 | £1,430 | £2,465 |
| £2,400,000 | £1,555 | £2,670 |
| £2,600,000 | £1,675 | £2,870 |
| £2,800,000 | £1,800 | £3,075 |
| £3,000,000 | £1,920 | £3,280 |
| £3,500,000 | £2,045 | £3,790 |
| £4,000,000 | £2,170 | £4,300 |
| £4,500,000 | £2,290 | £4,815 |
| £5,000,000 | £2,415 | £5,325 |
For the purchase price/valuation in excess of £5,000,000 please contact us. If a re-inspection is required, an additional fee of £35 will be charged for each re-inspection.