Interest Rates & Charges

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Intelligent Finance no longer offer Mortgages to new customers.

Mortgages (existing mortgage clients only)

If you've applied for a mortgage, the interest rates and any applicable charges will be set out in both the Mortgage Illustration and your mortgage offer.

Tariff of Mortgage Charges

IF is closely involved in the mortgage industry’s initiative with the Council of Mortgage Lenders and Which? to make our fees and charges easy for you to understand.

Our tariff of charges fully reflects the initiative’s good practice principles. This same document is being used across the industry to help customers compare mortgages.

When looking at the fees that other firms charge, you may notice some that don’t appear in our tariff (below). This means we don’t charge you these fees.

In our mortgage conditions we refer to this Tariff of Mortgage Charges as charges and expenses. Further information about how we deal with charges and costs can be found in the Mortgage Conditions booklet we send if you receive a mortgage offer.

WHEN YOU WILL PAY THIS CHARGE Before your first monthly payment. These are the fees and charges you may have to pay before we transfer your mortgage funds.
Name of charge What this charge is for How much is the charge?
Re-inspection fee (We call this Mortgage re-inspection fee) If your mortgage is released in stages and you’re using it to renovate your home, this covers the new valuation we need to do after the work’s carried out. We may also charge this fee where a re-inspection of the property is necessary after the initial valuation is carried out for example, when we are asked to release money that we have held back. £70.00 per inspection
WHEN YOU WILL PAY THIS CHARGE If you ask us for extra documentation and / or services beyond the standard management of your account
Name of charge What this charge is for How much is the charge?
Duplicate / interim statement fee Requesting a copy of a previous mortgage statement or an interim statement of your account as it stands. It might be paid by you or another lender. £15.00
WHEN YOU WILL PAY THIS CHARGE If you change your mortgage. NB if you change to a new mortgage product, the ‘before your first monthly payment’ fees may also apply at this stage.
Name of charge What this charge is for How much is the charge?
Change of parties administration fee (Transfer of mortgaged property [transfer of ownership]) Our administrative costs of adding or removing someone (a ‘party’) from the mortgage. £160.00
WHEN YOU WILL PAY THIS CHARGE If you are unable to pay your mortgage. These are the most common charges you may have to pay if you fail to keep up with your mortgage payments. Some charges, for example those covering unpaid / returned direct debits or cheques, occur at the early stages of your inability to pay (arrears). Other charges, for example, relating to our repossession of the property, may apply later in the process and will be dependent on your circumstances.
Name of charge What this charge is for How much is the charge?
Arrears management fee We may charge you an arrears management fee each time we try to contact you. Arrears management fees reflect the extra work we have to do for customers in arrears and what that costs us. £10.00
Litigation management fee If we instruct solicitors to collect arrears or seek possession. £100.00

You must also meet other additional costs we incur. These costs may include such things as the following work, which third parties may do on our behalf:

  • Field Agent costs – a Field Agent is a third party who will make a visit to the property to discuss your financial circumstances on our behalf.
  • Solicitor's costs – individual to each case.
  • Court fees.
  • Asset Managers costs - Asset Managers are third parties who will manage the marketing and sale of a repossessed property.
WHEN YOU WILL PAY THIS CHARGE Ending your mortgage term
Name of charge What this charge is for How much is the charge?
Mortgage exit fee (only payable if mortgage is repaid early)* - We call this Mortgage Discharge fee. You may have to pay this if:

* Your mortgage term comes to an end;
* You transfer the loan to another lender; or
* Transfer borrowing from one property to another.

This is payable either at the end of the mortgage term, or before the end of your mortgage term if you transfer the loan to another lender or another property (known as ‘redemption’).

You may be charged a separate fee by your solicitor or licensed or qualified conveyancer for their work relating to redemption of the mortgage and discharge of the security.
*If we charge a Mortgage exit fee, we will tell you the amount of the fee and whether it is variable in your most recently accepted mortgage offer or mortgage product transfer offer. The amount of the fee, if applicable, will also be shown in your Annual Mortgage Statement and in any Amount Owing Statement we issue. We will also tell you the amount of the fee at any time you ask us to.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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