All mortgage requirements and transactions will be discussed and processed via telephone, email or letter.
We cannot provide you with financial advice. We recommend you discuss your requirements with an independent financial advisor.
Timescales vary widely depending on the specific circumstances of each mortgage. Upon receipt of all required information and payment of fees we will consider your request and provide you with our decision. Simultaneously, we will instruct our solicitors to liaise with yours. Please ensure you highlight any business need to meet a particular date at the outset and we will endeavour to meet your expectations.
We have chosen to appoint a firm of solicitors to act on our behalf due to the nature of the transactions and the need for consistency in approach. Upon instruction from us, our solicitors will advise your solicitors of the fees involved for the transaction and request a fee undertaking before any work is commenced. You will be responsible for payment of all fees directly.
Yes. You will need a solicitor to act on your behalf and to provide you with independent legal advice to ensure you fully understand your personal liability in respect of all legal transactions.
Yes. Another lender may secure a further charge against the property but they will rank behind any existing Aviva charges in terms of priority. A deed of priority will be entered into between all relevant parties.
Please call 0800 953 1777 for all endowment policy-related queries.
No, not without our prior consideration and approval. The endowment policy has been provided as collateral security for your mortgage, and the proceeds will be applied to the mortgage upon maturity. Any proposed change to this agreement will need our consent.
Unfortunately, we do not offer this facility.
Mortgage statements are issued annually, dependent upon your chosen statement date. The statements are issued to the correspondence address we hold on our records. If you require further copy statements, a fee will be payable.
Yes, you can repay your mortgage early, although there may be costs incurred in doing so. If your mortgage is on a variable rate of interest you can repay at any time without incurring an early repayment fee. If your mortgage is on a fixed rate of interest, it is likely an early repayment fee will be payable. Please contact us to request an illustrative repayment quotation.
An early repayment fee may become payable if a fixed rate mortgage is repaid prior to the scheduled repayment date. In simple terms, if part or the entire mortgage is repaid early we will calculate if this causes a financial loss to us. The loss occurs if we are unable to reinvest the capital that is repaid early on the repayment date at the same interest rate as under the fixed rate mortgage. In view of the historically low interest rate environment, there is a high likelihood of an early repayment fee being payable; however each early repayment fee will be assessed depending on the applicable rates at that time. Please contact us if you require further details as to how the early repayment fee is calculated.
No, it is not a penalty. We do not profit from the early repayment fee. The early repayment fee is a reflection of the financial loss to us as a result of part or all of the mortgage contract being repaid early.
Yes, if the property is in charge to us we will hold the deeds in our secure off-site storage facility.
Once your payment has cleared through our banking system, we will begin the process of releasing the property from our charge. There are various steps before we can instruct TLT LLP to process the formal discharge of the property. It is difficult to provide a precise timescale; however, four weeks would be a reasonable assumption. If the property is located in Scotland or Northern Ireland, the process will be slightly different to properties located in England or Wales.