Where other services are provided to you that are not listed below, we will tell you about these and the costs involved.
Charge | Description | Fee |
|---|---|---|
Administration Fee | Charged to arrange your loan | Variable |
Partial release of Land / Property | Charged if we are asked to release a section of the property from our charge. You may also incur surveyor fees and solicitor fees, which will vary depending on the complexity of the transaction. | £350 |
Additional Advances | Charged when we provide subsequent drawdowns of funds following completion of the loan. | £295 |
Portfolio Manager Update Fee | Monthly fee charged for receiving and reviewing you or your agent’s monthly update where such an update is required in accordance with the terms and conditions of your loan. | £90 |
Loan Management Time Fee | Charged as an hourly fee to deal with every other aspect of the loan not dealt with in a Portfolio Manager Update. This fee is charged where a senior member of our team spends time administering, reviewing, monitoring, or otherwise dealing with any aspect of your loan or the security for it. | £125 |
Part Repayment | Charged when you make a lump sum payment which reduces the balance of your loan. | £250 |
Consent to Lease | Charged by Lendhub for considering a new consent to lease agreement. | £150 |
Consent to Further Charge | Charged when we are asked to consent to an additional loan being secured against the property with another lender. | £250 |
Consent to Section 106 Planning Agreements | Charged if we are asked to execute/consent to a section 106 agreement. | £375 |
Deed of Postponement / Letter of non-crystallisation | Charged when you ask us to postpone our charge in favour of another lender or where we are asked to provide a letter of non-crystallisation. | £375 |
Loan Reference | Charged when we are asked to provide information on the status and conduct of your account. | £100 |
Returned Direct Debit | Charged if your bank refuses to authorise the direct debit payments to ourselves. | £35 |
Lender’s Insurance | Charged in addition to the cost of the newly arranged policy you allow the buildings insurance on the property to lapse, or do not provide us with up-to-date details within 14 days of request showing that the Property has adequate cover in place as per the terms of the facility, we will arrange for an insurance policy on the property. | £150 and |
Deeds / Security Release Fee | Where either a full or partial redemption of the loan occurs. This fee is charged for each Security. (This is in addition to our solicitor’s costs in dealing with the discharge of the loan). | £495 |
Solicitor Redemption Charges | Charged by Lendhub’s solicitors only when work is undertaken by them upon redemption of your loan. | Variable |
Variation of Loan Terms | Charged if we agree to vary the existing terms of your Loan. You may also incur a solicitor’s fee for this charged at their cost. | £250 |
Change of Term (Authorised) Fee | Charged when a first extension is granted. (If the extension is granted this fee must be paid in advance of the extension coming into effect). | Variable |
Subsequent Change of Term | Charged when a second or subsequent extension is granted. (If the extension is granted this fee must be paid in advance of the extension coming into effect). | Variable |
Change of Term (Unauthorised) | Charged if the loan has not been redeemed in full by the end of the latest contracted loan term and no formal extension request or other arrangement has been agreed. | 3% of loan |
These fees may be incurred should you not keep up to date with your payments or if you break other terms of your agreement.
Charge | Description | Fee |
|---|---|---|
Unpaid Ground Rent / Service | Charged for our administrative costs when we make payment of Ground Rent, Service Charges, or any other charges in relation to the security property (in addition to the fee or charge paid). | £250 |
Arrears Fee | Charged if the loan remains outstanding 7 calendar days after the facility’s maturity date. | £250 |
Material Project Divergence Fee | Charged if we serve you with a Material Project Divergence Notice. | 1% of |
Monthly Arrears Fees | This is a monthly fee in respect of administering your loan account if you fall one or more months behind with your payments and no arrangement is in place to clear the outstanding payments. Where this is charged, the Portfolio Manager Update fee is waived. | £950 |
Referral to Recoveries | Charged as a one-off fee when you are referred to our recoveries department. | £500 |
Reservation of Rights / Notice of | Charged if we issue a Reservation of Rights Notice or following an Event of Default if we issue a Default Notice. | £500 |
Referral to Solicitors | Charged if you are in default and we refer your case to external solicitors. The monthly arrears charge will continue to apply after such referral. | £750 |
Appointment of an Administrator or a Receiver | Charged if you are in default and we appoint a receiver to manage the Property and carry out duties and exercise rights as a receiver of the Property in accordance with the legal charge. | £2500 |
Solicitor Litigation Costs | These are the legal charges we have to pay to our solicitors if we/they have to take legal action against you and includes any court fees we incur. | Variable |
Administrator & Receivership | Charges for the appointment and subsequent costs incurred by an Administrator or LPA receiver relating to the management and sale of the property. | Variable |
Agents Maintenance and Sale | Charges relating to Agents’ costs for the maintenance and sale of a repossessed property. | Variable |
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