Danske Bank 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 either don’t offer this service or charge you these fees.
Correct as at 25th October 2018.
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.
|Funds transfer fee
||Electronically transferring the mortgage funds to you or your solicitor.
||Free of charge.|
||You will 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 solicitor directly to you and vary from application to application.|
||This is charged on some mortgages as part of the deal. It can be paid up-front or added to the total mortgage amount. If you add it to your mortgage, you’ll pay interest on it at the same rate as the rest of your borrowing. It might be a flat fee, or a percentage of the loan amount.
||This varies by product. Please refer to your Loan Offer for the fee charged or to our specific products on sale for the fee applicable.|
||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.
||Re-inspection fee - £50.|
The lender’s valuation report, which is used to calculate how much it will lend you. In certain circumstances we may require a Re-inspection or Drive By valuation. 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.
Please note that these fees are based on properties in Northern Ireland. For valuation fees on properties in mainland UK, please speak to an adviser.
The following fee’s apply depending on the property value:
|Up to £150,000
|£150,001 to £300,000
|£300,001 to £500,000
If you ask us for extra documentation and / or services beyond the standard management of your account
|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.
Duplicate statement - £3 for each statement
One off statement/branch print out - £3 for each statement
|Request for legal documentation fee
||Any original documents relating to your mortgage e.g. title deeds, that you ask for
||Inspection fee - £30|
|Duplicate request for certificate of interest paid (for each year) fee
||Requesting a copy of a previously issued certificate of interest paid.
||Free of 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.
|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 (e.g. while you’re on a fixed or tracker interest rate)
|The fee is a percentage of your remaining balance. Please refer to your Loan Offer for further details.|
|Change of term fee
||Extending or reducing the remaining term of your mortgage.
||Normal product fees apply, this varies by product. Please refer to your Loan Offer for the fee charged or to our specific products on sale for the fee applicable.|
|Change of repayment method fee
||Transferring all or part of your mortgage from an interest-only to a repayment basis.
||Free of charge.|
|Change of parties administration fee
||Our administrative costs of adding or removing someone (a ‘party’) from the mortgage.
||Normal product fees apply. This varies by product. Please refer to your Loan Offer for the fee charged or to our specific products on sale for the fee applicable.|
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.
|Unpaid / returned direct debit or cheque
||Payable on your Danske Bank mortgage servicing account when your nominated bank rejects a direct debit collection, or your payment by cheque is returned unpaid by your bank, due to lack of funds. This only applies where your servicing account is one of our current accounts.
Ending your mortgage term
|Early repayment charge (ending your mortgage)
||You may be charged this if you repay your mortgage in full before the mortgage term ends.
||Where applicable, this fee is a percentage of your remaining balance. Please refer to your Loan Offer for further details.|
|Mortgage exit 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.
Deeds release fee - £75
Vacate Mortgage fee - £50
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.