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Set out below is a list of fees and charges which you may have to pay in relation to the administration of your loan. The list is not exhaustive and the actual fees may vary depending on the complexity and specific details of your case.
Please note, you will have to pay any costs that we pay to third parties (e.g. solicitors, barristers, receivers, courts, etc.) that we may instruct in the exercise our legal rights, including for the recovery of any money owed to us, or to create or protect our security.
If we apply any other fee to your loan to cover administration costs, we will endeavour to give you reasonable notice, stating the amount of the fee and the nature of the work covered by it.
The fees are subject to annual review and variation in accordance with the terms and conditions of your loan. The latest version of our Tariff of Fees can always be found at https://kseye.co.uk/tariff-of-fees/.
Fees are exclusive of VAT. Where applicable, VAT will be payable in addition to the relevant fee.
| Fee | Description | Amount |
|---|---|---|
| Funds transfer fee | KSEYE’s fee for electronically transferring funds to you or your solicitor. | £25 (per transfer) |
| Revaluation fee | Charged when a revaluation of the property is required after the initial valuation. | Variable |
| Request for redemption statement | When you request 2 or more redemption statements for the same loan account during a one-month period, we will charge a fee for the 2nd and each subsequent statement. | £25 (per statement) |
| Redemption fee | KSEYE’s fee for dealing with full or partial redemption of the loan. | £250 (for each full or partial redemption) |
| Solicitors’ redemption charges | Solicitors’ charges for dealing with full or partial redemption of the loan. | Variable, estimated to be £350 for each full or partial redemption |
| Early repayment charge (Hybrid BTL Only) |
Charged when you repay all or part of your loan before the due date for repayment. | 3% of amount repaid in months 1-12; 2% of amount repaid in months 13-21; and 0% of amount repaid in months 22-24 |
| Change of term fee (authorised) | Charged when an extension to the loan term is granted. (This fee must be paid in advance of the extension coming into effect). | From 1% of the loan balance (for each extension) |
| Change of term fee (unauthorised) | Charged if a loan has not been redeemed in full by the due date and no formal extension or other arrangement has been agreed. | From 1.25% of the loan balance |
| Applications for consent | KSEYE’s charge for considering and dealing with an application for consent, e.g. consent to lease, planning application, second charge. | £250 (per application) |
| Letter of Non-Crystallisation | KSEYE’s charge for providing a letter of non-crystallisation. | £250 (per letter) |
| Deed of Priority | KSEYE’s charge for entering into a deed of priority with another lender. | £350 |
| Solicitors’ charges for applications for consent or deeds of priority | Solicitors’ charges for dealing with applications for consent or deeds of priority (if legal advice is required). | Variable |
| Change to terms and conditions | KSEYE’s charge for varying the existing terms and conditions of the loan at your request, e.g. a change to interest payment frequency. | £250 |
| Unpaid ground rent/service charge fee | KSEYE’s fee for making a payment of ground rent, service charge or any other charge in relation to the security property on your behalf. | £150 (in addition to the fee or charge paid) |
| Referral to recoveries department | KSEYE’s one-off charge when a customer is referred to the recoveries department. | £250 |
| Notice of default | Charged if a notice of default is issued in relation to your loan account. | £250 (per notice) |
| Monthly arrears fee | This is a monthly fee charged for 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. | £250 per month |
| Referral to solicitors | KSEYE’s charge for referring your case to external solicitors if you are in default. The monthly arrears fee will continue to apply after such referral. | £750 |
| Solicitors’ charges for acting in repossession or receivership | The legal fees for the repossession and subsequent sale of the property. | Variable |
| Appointment of receivers | KSEYE’s charge for dealing with the appointment of LPA receivers if you are in default. The monthly arrears fee will continue to apply after such appointment. | £1,250 |
| LPA receiver charges | Charges for the appointment and subsequent costs incurred by an LPA receiver relating to the management and sale of the property. | Variable |
| Agent’s maintenance and sale costs | The agent’s costs for the maintenance and sale of a repossessed property. | Variable |
Updated: August 2022