Our Mortgage Promise
We calculate interest on a daily basis, which is a fairer way to do this, as it means that the majority of customers pay less interest. As soon as they make a repayment it will reduce their capital balance immediately and therefore reduce the amount of interest charged.
Keeping Customers Informed
We will write to all customers at least once per year to keep them informed about the outstanding balance on their mortgage account. A guide to understanding your mortgage statement is also enclosed to help the customer understand what has been sent.
We will also contact customers with an interest only mortgage in advance of the end of their mortgage term, and at least annually, to remind them of their obligation and to offer assistance to ensure the process for repayment of the capital balance remains on track.
In addition, whenever the rate of interest charged on a mortgage changes we will write to customers in advance, to inform them about the revised payments.
When a mortgage scheme is due for maturity we will provide a full advice service to ensure we recommend the best available alternative for that customer. A customer whose account is maturing will have access to all mortgage products currently available within the portfolio subject to our current lending criteria.
For those customers who are not looking to make any changes to their loan i.e. increase the balance or extend the term we will also offer the option to select a follow on product without taking advice.
The mortgage schemes we make available to our customers are fully portable which means the scheme can be transferred to a different property, subject to meeting our lending criteria at the time the application is made.
If our customers require any additional borrowing to their existing balance then they can do so on any current product available in the range at that time (subject to LTV loan requirements and meeting our lending criteria).
Summary of Fees
All fees associated with any mortgage are clearly disclosed within the Key Facts Illustration (KFI) document, provided at the beginning of the mortgage enquiry process.
Your right to cancel
A customer has the right to cancel throughout the mortgage offer and application process stage. During the offer stage, the customer may change to another product if, for example, certain circumstances have changed. Please note, there is a fee for this service.
We will treat customers who are experiencing difficulties in meeting their mortgage payments in a fair way and will discuss a range of options available. Repossession is always a last resort.
View our Customer Charter
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE