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 give you reasonable notice, stating the amount of the fee and the nature of the works covered by it.
The fees are subject to annual review and variation in accordance with the terms and conditions of your loan.
Fees are exclusive of VAT. Where applicable, VAT will be payable in addition to the relevant fee.
|Name of charge||Description||Amount|
|Funds transfer fee||Charged 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 for each subsequent statement.||£25 (per statement)|
|Redemption fee||KSEYE’s charge for releasing all or part of its security upon full or partial redemption of the loan.||£250 (for each full or partial redemption)|
|Solicitors’ redemption charges||Solicitors’ charges in respect of work to redeem the legal charge and deal with the redemption funds.||Variable, estimated to be £350 plus VAT for each full or partial redemption|
|Change of term (authorised) fee||Charged when an extension to the loan term is granted. (This fee must be paid in advance of the extension coming into effect).||1% of the loan balance (for each extension)|
|Change of term (unauthorised) fee||Charged if a 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.||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, letter of non-crystallisation.||£250 (per application)|
|Letter of Non-Crystallisation||KSEYE’s charge for providing a letter of non-crystallisation.||£250|
|Deeds of Priority||KSEYE’s charge for entering into a deed of priority with another lender post-completion.||£350|
|Solicitors’ charges for applications for consent or deeds of priority||Solicitors’ charges for work in respect of applications for consent or deeds of priority (if legal advice is required).||Variable|
|Change to terms and conditions||Charged when, at your request, we make changes to existing terms and conditions of your loan, e.g. a change to interest payment frequency.||£250|
|Unpaid ground rent/service charge fee||Charged for our administrative costs when we make a payment of ground rent, service charges or any other charge in relation to the security property.||£150 (in addition to the fee or charge paid)|
|Referral to recoveries department||Charged as a one-off fee when a customer is referred to our 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 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.||£250 per month|
|Referral to solicitors||Charged if you are in default and our recoveries department refers your case to external solicitors. The monthly arrears charge 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||Charged if you are in default and we appoint LPA receivers. The monthly arrears charge will continue to apply after such referral.||£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|
|Agents maintenance and sale costs||Charges relating to the agent’s costs for the maintenance and sale of a repossessed property.||Variable|