Our Fees
Reservation Fee (Holding Deposit)
This is a non-refundable deposit paid to the seller's estate agent to lock in your offer on your Preferred Home, after offer has been accepted.
Since no buyer is contractually bound to purchase a property until all due diligence has been completed and contracts exchanged, this deposit provides security to the seller that it is a genuine offer and in exchange, the seller takes the property off the market. This fee may only be refunded in the event that there are material developments discovered during the purchase process that was not disclosed by the seller. This is usually deducted from the Purchase Price at purchase completion.
What is the cost?
£1,000 - £5,000 depending on the seller requirements and Purchase Price of the property.
When is it paid?
At offer acceptance
Product Fee
This is the fee you pay to us for arranging the alternative finance from our funders to purchase your property.
What is the cost?
If;
(a) Purchase Price <£450,000: 0.25% of the Purchase Price, up to a max of £1,000.
(b) Purchase Price is between £450,000 and £650,000: 0.30% of the Purchase Price up to a max of £1,500 and;
(c) Purchase Price is between £650,000 and £800,000: 0.35% of the Purchase Price up to a max of £2,000.
The minimum fee is £900.
When is it paid?
At completion of purchase
Rent Arrears Fee
This is the fee charged if rent or any other monies remain due for more than 14 days, and will be calculated from the due date of payment.
What is the cost?
3% above the Bank of England base rate
When is it paid?
14 days from rent payment date, if rent is in arrears
Rent Recovery Fee
This is the fee charged if your account is in arrears without settlement. It covers administrative costs incurred in settlement of your account.
What is the cost?
Variable, depending on location and circumstance of the recovery
When is it paid?
At rent payment
Extension Fee
This is the fee charged for extending your lease term.
What is the cost?
0.5% of the value of the home at the prevailing market rate.
When is it paid?
Upon extension approval
Disposal Fee
At the end of the disposal/sale process of the property, you will be liable for part payment of the sale transaction costs [estate agent, legal/conveyancing fees, Energy Performance Certificate (EPC), Home Report (Scotland)] and capital gains tax (CGT), if applicable. Your portion of the payment will be based on your share of the property-owning SPV at the time of the sale.
What is the cost?
Estate Agent Fee: 0.5% - 3% of Sale Price (plus VAT)
Conveyancing Fee: £550 - £2,000 (inc. VAT)
EPC: £35 - £150 (plus VAT)
CGT: 0% (gain ≤ £3,000); 18% (£3,000 - £50,270 gain) and 24% (gain > £50,270)
When is it paid?
At completion of sale