About our fees
Where a product states it offers a free valuation, we will pay for a standard mortgage valuation only, provided our nominated valuer is used. Where a product states ‘assistance with legal fees’ we will pay for standard remortgage work only, provided our nominated solicitor is used.
The below table outlines the valuation fees which may be payable. In addition we are able to offer full buildings surveys upon request, subject to coverage by our nominated valuer.
Standard mortgage valuation: this is solely for the Society to assess whether the property provides adequate security for the mortgage loan. It is not a survey and it is not based on a detailed examination of the structure, so you should not assume that there are no defects in the property besides those (if any) mentioned. It is for you to satisfy yourself as to the condition of the property and that it is good value for money. The fact that the Society grants a loan will not imply any warranty that the price you are paying is reasonable. You should consider, and discuss with your solicitors, whether to have a further inspection or survey carried out. Without advice of that nature you will be taking the risk yourself of any defect or matters adversely affecting the value of the property. Neither the Society nor the Society’s valuer will accept any liability to you for the contents or accuracy of the Valuation Report (even if the Valuer is negligent in relation to the Report).
Homebuyers report: if you require a more detailed examination of the property the Society can ask the Valuer to carry out for you the RICS (Royal Institution of Chartered Surveyors) Homebuyer’s Report. This covers an inspection of the parts of the property which are readily visible or accessible and includes the surveyor’s opinion of the open market value of the property. The Report describes the condition of the property. Any major defects are listed in general terms with recommendations. The surveyor examines the roof space if there is an easily accessible hatch. They cannot inspect flooring if it is covered by furniture, fitted carpets, etc. Whilst the surveyor looks at the electrical wiring and lifts the drain covers, they do not test either of them. If you require such a Report the Society will still need its own Valuation Report, but if the two inspections are carried out at the same time, the fee for the Homebuyer’s Report will include this.
Building survey: Neither of the Reports referred to above is a full building survey. A building survey is a very detailed inspection of the property and provides a comprehensive report on its condition, describing in detail any defects. There is no standard scale of charges and the actual cost is subject to negotiation with the surveyor. If you wish to have a building survey, the Society can put you in touch with a qualified surveyor.
Our Property Valuation Fees:
Purchase Price / Estimated Value
|Standard Mortgage Valuation Report||Standard Remortgage Valuation Report||Homebuyers Report (if carried out at same time as Valuation Report)|
|Up to £50,000||£80||£135||£230|
|Up to £100,000||£115||£135||£305|
|Up to £150,000||£125||£135||£365|
|Up to £200,000||£160||£135||£420|
|Up to £250,000||£180||£135||£475|
|Up to £300,000||£200||£135||£525|
|Up to £350,000||£240||£135||£575|
|Up to £400,000||£270||£135||£615|
|Up to £450,000||£290||£135||£660|
|Up to £500,000||£315||£135||£775|
|Up to £600,000||£370||£225||£865|
|Up to £700,000||£430||£225||£1,005|
|Up to £800,000||£495||£225||£1,145|
|Up to £900,000||£550||£225||£1,285|
|Up to £1,000,000||£610||£225||£1,425|
|Up to £1,200,000||£730||£730||£1,675|
|Up to £1,400,000||£850||£850||£1,925|
|Up to £1,600,000||£970||£970||£2,175|
|Up to £1,800,000||£1,095||£1,095||£2,425|
|Up to £2,000,000||£1,210||£1,210||£2,675|
|Up to £2,500,000||£1,400||£1,400||£2,900|
|Up to £3,000,000||£1,600||£1,600||£3,200|
|Up to £3,500,000||£1,800||£1,800||£3,500|
|Up to £4,000,000||£2,000||£2,000||£3,800|
|Up to £4,500,000||£2,200||£2,200||£4,100|
|Up to £5,000,000||£2,400||£2,400||£4,300|
More information? You got it.
If you have a question about our mortgages which we haven’t covered, we’ve put together a list of common enquiries. We’ve also compiled some helpful documents, tools and links.
Frequently asked questions.
If you’ve got a question about a mortgage, we’ve most likely heard it before. Here you’ll find answers to some common enquiries.
Useful mortgage downloads.
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