Mortgage Costs
Should you choose to apply for a northern rock mortgage, there will be certain fees that you will need to pay as part of the process of applying for and completing the new mortgage.
Valuation Fees
Whether you're buying a new home, or remortgaging your present one, you will need to have your property valued. You are responsible for paying the cost of this valuation, which must be paid at the time you submit your application for a new mortgage with northern rock.
See our guide to valuations for further information, but the current valuation fee scale is listed below:
| Purchase Price | Valuation Report Fee | Homebuyer's Fee |
|---|---|---|
| up to £60,000 | £360 | £515 |
| £60,001 - £100,000 | £380 | £555 |
| £100,001 - £150,000 | £410 | £595 |
| £150,001 - £200,000 | £435 | £640 |
| £200,001 - £250,000 | £460 | £685 |
| £250,001 - £500,000 | £520 | £750 |
| £500,001 - £750,000 | £575 | £800 |
| £750,001 - £1,000,000 | £620 | £850 |
| £1,000,001 - £1,500,000 | £750 | £1,050 |
| £1,500,001 - £2,000,000 | £900 | £1,250 |
| £2,000,001 - £2,500,000 | £1,050 | £1,450 |
| £2,500,001 - £3,000,000 | £1,200 | £1,750 |
| Over £3,000,000 | By Negotiation | By Negotiation |
| (Fees shown include VAT.) | ||
A valuation cannot be instructed until the fee is paid. For loans where the advance exceeds £1 million, an additional desktop valuation will need to be carried out for a fee of £75. The above fees include an application fee of £250. This fee will be charged on all applications
Product Fees
With certain northern rock mortgage deals a product fee is payable as part of the terms and conditions of the deal. You can choose to pay this fee up front, or can choose to add the product fee to your loan amount, in which case it will be debited to your account on completion of your new mortgage.
northern rock offers the option to take each of its mortgage deals without a product fee. See Save on Fees for details.