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Important information about changes to mortgage fees

Wednesday 2 April 2014

Following a review of our mortgage fees and charges, we’ll be making changes to our mortgage fees from Wednesday 2nd April.

In order to ensure these changes are applied successfully, we’re cancelling any cases that have not reached full application by Tuesday 1st April.

This will happen in stages, with any existing decision in principle over 30 days old that hasn’t been upgraded to a full application by Sunday 30th March, being cancelled and removed from the system. All remaining decision in principles created in the last 30 days will be cancelled at 6pm Tuesday 1st April.

For each cancelled case, the decision in principle will need to be re-keyed if the customer wishes to proceed. So that we can make these positive changes to our fees for customers, we’ve had to carry out this action and apologise for any inconvenience re-keying these cases may cause you.

The changes to fees are as follows:

  • The Mortgage Account fee will increase from £275 to £295
  • We’ll be reducing the Valuation fee by £50
  • We’ll be removing the Further Advance fee of £299
  • We’ll be removing the CHAPS fee of £35
  • We’ll be removing the Unpaid Ground Rent fee of £75

While we’ve been able to remove or reduce a number of fees, it’s been necessary to increase the mortgage account fee to recover some of the costs associated with the set up, routine maintenance and closure of the mortgage account.

Key information

For removed fees (Further Advance fee, CHAPS fee, Unpaid Ground Rent fee)

  • New fee structure will apply to new applications where the KFI is created on or after Wednesday 2nd April

For increased / reduced fees (Mortgage Account fee, Valuation fee)

  • Original fees will still apply where the KFI has been created before Wednesday 2nd April
  • New fees will apply where the KFI has been created on or after Wednesday 2nd April

The following forms will be updated and available on the BM Solutions website on Monday 14th April. However, we will ensure the correct fees are taken and shown when we produce your KFI.

  • Additional borrowing / purchase of equity stage 1
  • Additional borrowing / purchase of equity stage 2
  • Self build further borrowing stage 2

For more information on our fees, please visit or talk to your Business Development Manager if you have any queries.

For the use of mortgage intermediaries & other professionals only

If you do not have professional experience, you should not rely on the information contained on this site. If you are a professional and you reproduce any part of the information contained on this site, to be used with or to advise private clients, you must ensure it conforms to the Financial Conduct Authority's advising and selling rules.

These pages are for the use of those people who are resident and ordinarily resident in the UK and should not be regarded as an offer or invitation to sell Mortgage products in any jurisdiction other than the UK.

Birmingham Midshires is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered office; The Mound, Edinburgh, EH1 1YZ

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 169628. Telephone number 0345 850 5000. Telephone calls may be monitored or recorded.

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