Our mortgage fees

Your home may be repossessed if you do not keep up your payments

At a glance

Different fees apply depending on the interest rate type you choose - but here’s a simple summary. If you’re new to mortgages and there are any terms you don’t understand, take a look a look at our jargon buster for simple explanations.

Fee type	Fixed	Tracker
Booking fee	£0 - £490	£0
Arrangement fee	£0	£0 - £490

Show the section Other fees you may pay
Show the section Valuation fees

Show the section Other fees you may pay

Early Repayment Charges

You might have to pay an Early Repayment Charge if you fully repay your mortgage early.

If you take a Fixed Rate Mortgage and you repay the whole of your mortgage during the Fixed period, an Early Repayment Charge will be charged at 3% of the original mortgage amount during the first year and 2% of the original amount if the mortgage is closed after that during the Fixed Rate Period.

If you choose to repay your mortgage after the Fixed Rate Period has ended, an Early Repayment Charge won’t apply.

The amount of any Early Repayment Charge will be shown on your Mortgage Illustration, which you may receive if you decide to proceed with a mortgage application.

Legal fees

These are the fees payable to your solicitor or licensed conveyancer. first direct will also need a solicitor or licensed conveyancer to act on behalf of the bank. If your appointed solicitor / licensed conveyancer meets our criteria then we will appoint them to act on behalf of the bank. If not, first direct will instruct another solicitor. The borrower is responsible for these fees.

Limited Edition

Mortgages from our Limited Edition range are available for a limited period and normally come with their own fees and interest rates. Our Limited Edition mortgages are in addition to our Standard and Fee Saver range.

Remortgage fees

If you are remortgaging a property in England, Ireland, Scotland or Wales then in addition to arrangement fees and/or booking fees you will need to pay for a valuation. However, first direct will pay for any enquiry fees to your previous lender, money transmission fees and Land Registry fees.

If you are changing the owner(s) of the property you're Remortgaging you will need to pay for the associated legal costs that come with this.

Where the mortgage and property will both continue to be in the same names and the property will be your main residence, we will prepare the legal documentation. This means that there will be no basic solicitors costs for you to pay. However you will not have any legal representation unless you arrange and pay for it yourself.

If you are transferring your mortgage to first direct from another mortgage provider, they may charge an Early Repayment Charge if you are moving during a fixed rate or "tied-in" period.

Show the section Valuation fees

Valuation fees

As part of the mortgage process for residential properties, we will conduct a Standard Valuation free of charge. The current fee for Homebuyer Reports and Building Surveys for residential property valuations, including VAT (UK only), are detailed below. This may be subject to change without notice. If you choose to have a Homebuyers Report or Buildings Survey in addition, the following fees apply:

Valuation figure	Standard valuation report	HomeBuyer report	Building survey
Less than £75,000	£0.00	£285.00	£503.00
£75,001 - £100,000	£0.00	£297.00	£539.00
£100,001 - £150,000	£0.00	£309.00	£629.00
£150,001 - £200,000	£0.00	£423.00	£695.00
£200,001 - £250,000	£0.00	£447.00	£731.00
£250,001 - £300,000	£0.00	£477.00	£767.00
£300,001 - £400,000	£0.00	£563.00	£863.00
£400,001 - £500,000	£0.00	£581.00	£881.00
£500,001 - £600,000	£0.00	£665.00	£1,001.00
£600,001 - £700,000	£0.00	£695.00	£1,073.00
£700,001 - £800,000	£0.00	£743.00	£1,145.00
£800,001 - £900,000	£0.00	£847.00	£1,253.00
£900,001 - £1,000,000	£0.00	£871.00	£1,277.00
£1,000,001 - £1,250,000	£0.00	£1,041.00	£1,421.00
£1,250,001 - £1,500,000	£0.00	£1,119.00	£1,529.00
£1,500,001 - £1,750,000	£0.00	£1,149.00	£1,673.00
£1,750,001 - £2,000,000	£0.00	£1,149.00	£1,775.00
£2,000,001 - £2,500,000	£0.00	£1,390.00	£1,996.00
£2,500,001 - £3,000,000	£0.00	£1,683.00	£2,096.00
£3,000,001 - £3,500,000	£0.00	£2,083.00	£2,389.00
£3,500,001 - £4,000,000	£0.00	£2,283.00	£2,833.00
£4,000,001 - £4,500,000	£0.00	£2,587.00	£3,200.00
£4,500,001 - £5,000,000	£0.00	£2,900.00	£3,575.00

The scale is a guide and very large properties or those of an unusual nature are referred to a surveyor before the fees can be confirmed.

Standard valuation report

This is a quick check to determine the current market value and confirm that a property provides suitable security for mortgage purposes. Only areas that are accessible or visible will be commented on – furniture and carpets won’t be moved. If there appears to be a problem, we’ll probably recommend a specialist report. We strongly advise you obtain a more detailed report/survey and should never rely solely on a Standard valuation report Report before deciding what to do.

Homebuyer’s Report

suitable for conventional properties built within the last 150 years
more detailed than a Standard valuation report, taking up to three hours depending on the size of the property
written in a standard format which is approximately 12 pages long
will help you make an informed decision on whether or not to proceed with the property and assess whether the property is reasonably priced
concentrates on defects, problems or potential problems that are urgent or significant but does not explore structural aspects and won’t detail any long-term remedial work that might be needed
services (gas, electric, plumbing, central heating, drains etc) will be looked at and commented on but not tested
only areas that are accessible or visible will be commented on, furniture and carpets won’t be moved
if there appears to be a problem, we’ll recommend a specialist report at an additional cost.

Building survey

suitable for all residential properties, listed buildings, properties in a state of disrepair, properties that have been altered extensively, are of an unusual construction – this provides a full picture of their construction (although not recommended for flats)
provides advice including subsidence, external walls, a history of the property and future maintenance
covers damage to exposed timbers, condition of damp proofing, insulation and drainage (although drains are not tested)
will also provide technical information on the construction of the property and the materials used
takes up to half a day, dependant on property size
doesn’t follow a fixed format so varies in its content and length
provides potential buyers with advice on existing or potential problems and remedial works
if there appears to be a problem, we’ll recommend a specialist report at an additional cost.

Think carefully before securing other debts against your home. Your home may be repossessed if you don't keep up repayments on your mortgage.

Our mortgage fees

At a glance

Early Repayment Charges

Legal fees

Limited Edition

Remortgage fees

Valuation fees

Standard valuation report

Homebuyer’s Report

Building survey

Useful documents

Tools you might like

Our mortgage fees

At a glance

Early Repayment Charges

Legal fees

Limited Edition

Remortgage fees

Find the mortgage for you

Useful documents

Tools you might like

Contact us today

If you want to: Find out more information about your existing mortgage rate

If you want to: Move house, remortgage, discuss rates or borrow more

If you have: Completion questions, payment changes, statement requests, or to pay off your mortgage

If you have: An ongoing mortgage application