• Tariff of Mortgage Charges

    TSB 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.

    You can download and print this page by viewing our PDF (148KB) .

  • 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?
    Account fee
    At TSB we call this the mortgage account fee.
    Creating and managing your mortgage account. This might also include closing your mortgage account when your mortgage ends - the product details for your mortgage will tell you if this is the case.

    At TSB:

    • Some mortgages don't have this fee. If this is the case, it will say so in your mortgage product details.
    • The fee covers the setting up, routine maintenance and closing down of your mortgage account.

    £265
    Funds transfer fee
    Electronically transferring the mortgage funds to you or your solicitor.
    £35
    Legal fee
    You'll normally instruct a solicitor to act on your behalf in connection with your home purchase transaction. You may be required to pay their legal fees and costs as part of their work on your behalf. These fees/costs are normally charged by the solicitor, directly to you unless we tell you that we will contribute to the legal costs as part of your product deal.
    These fees/costs are charged by the solictor, directly to you.
    Product fee
    This is charged on some mortgages as part of the deal. It can be paid upfront or added to the total mortgage amount. If you add it to your mortgage, you'll pay interest on it at the interest rate on your main loan account. It might be a flat fee, or a percentage of the loan amount.
    At TSB
    • This fee will be refunded if your mortgage application fails or you withdraw it.
    • We provide a range of options, including mortgages that don't have product fees.
    Maximum is £1,995
    For more information please visit tsb.co.uk/mortgages and select your type of mortgage.
    Valuation fee
    At TSB we call this a level one valuation (a report on the property's condition and market value)
    The lender's valuation report, which is used to calculate how much they will lend you. This is separate from any valuation or survey of the property you might want to commission.
    There are other homebuyers or structural survey options available to you at a cost and there may be different approaches in different parts of the UK.
    Some mortgages offer free valuations - the product details for your mortgage will tell you if this is the case.
    The amount we charge depends on your property value:
    Property value Fee
    Up to £25,000
    £25,001-£50,000
    £50,001-£100,000
    £100,001-£150,000
    £150,001-£200,000
    £200,001-£250-000
    £250,001-£350,000
    £350,001-£450,000
    £450,001-£550,000
    £550,001-£650,000
    £650,001-£750,000
    £750,001-£850,000
    £850,001-£1,000,000
    £1,000,001-£1,250,000
    £1,250,001-£1,500,000
    £1,500,001-£1,750,000
    £1,750,001-£2,000,000
    £225
    £250
    £275
    £300
    £350
    £400
    £450
    £525
    £600
    £650
    £700
    £750
    £800
    £900
    £1,050
    £1,150
    £1,250


    • If you change your mortgage.
      Please note if you change to a new mortgage product, the fees under the section 'before your first monthly payment' may also apply at this stage.
       Name of charge
       What this charge is for
       How much is the charge?
      Early repayment charge
      Changing your mortgage.
      You may have to pay this if:
      • You overpay more than your mortgage terms allow;
      • You switch mortgage product or lender during a special rate period (for example, while you're on a fixed or tracker interest rate).
      The fee will be a percentage of the amount repaid. The percentage reduces during a special rate period becoming 0% at the end of the period.
      For more information, please visit tsb.co.uk/mortgages and select your type of mortgage.
      Change of parties administration fee
      At TSB we call this the transfer of mortgaged property (or ownership of mortgaged property) charge.
      Our administrative costs of adding or removing someone (a 'party') from the mortgage.
      £160
    • 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 fee
      At TSB we call this the arrears management fee.
      You may be charged an arrears fee on a monthly basis, or when specific events happen in the management of your account when you are in arrears.
      This covers charges in respect of your account if you fall behind with your payments.
       £35
    • Ending your mortgage term.
      Name of charge
      What this charge is for
      How much is the charge?
      Early repayment charge
      Ending your mortgage.
      You may be charged this if you repay your mortgage in full before the mortgage term ends.
      This fee will be a percentage of the amount repaid. The percentage reduces during a special rate period becoming 0% at the end of the period.
      For more information, please visit tsb.co.uk/mortgages and select your type of mortgage.
      Mortgage exit fee
      This fee does not apply to new mortgages entered into on or after 1 August 2007.
      At TSB we call this the closing administration charge.

      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.

      At TSB

      • This fee only applies to certain mortgages. It does not apply to mortgages entered into on or after 1 August 2007. The amount of the charge will also show on your annual mortgage statement and in any redemption statement.
      • We'll tell you the amount of the charge whenever you ask.

      Where this fee applies, the maximum payable is £50.
    • All charges shown are effective from 1 January 2016.

      You can download and print this page by viewing our PDF (148KB).

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