Current Basic Interest Rate

The Barnsley’s Standard Variable Rate – effective from 1st January 2009 - 4.99%

The overall cost for comparison is 5.3% APR

Most lenders have what's known as a Standard Variable Rate. As the name suggests, the rate of interest can vary upwards or downwards. At the end of special deals, many borrowers may pay this rate, so even if you initially opt for a special deal, you should take note of it.

Valuation and Administration Fee

The Barnsley requires a valuation of the subject property to be carried out by a suitably qualified professional valuer. The valuation report is for the use of the Barnsley to assess the adequacy of the security for mortgage purposes and is not a full structural survey. A copy of this report will be included with the offer of mortgage. Basic valuation fee charges are as indicated below, or if you wish, the Barnsley can arrange a Home Buyers Report or a Structural Survey. Included within the overall fee payable is an administration fee which goes towards the Barnsley's administration costs when processing a mortgage application.

Some products may offer a free of charge basic valuation or no administration fee and this will be made clear during the interview process.

Solicitor's Fees

Whether you are purchasing a new property or remortgaging your existing home, you will require the services of a solicitor. Please speak with your chosen solicitor regarding their charges.

Initial Interest

The charge for initial interest covers the interest due on the loan in the month it commences. A separate payment is required to cover this as it is not included within the regular monthly payment that starts the month after commencement of the mortgage.

Mortgage Redemption

When you redeem a mortgage there are certain charges which may become applicable. These are:

All the above fees will be itemised in the KFI given when you enquire about a mortgage.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Written quotations available on request. All loans subject to status. Be sure you can afford the repayments before entering into a credit agreement.