Generation Home is supportive of the mortgage industry’s initiative with the UK Finance 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 do not appear in our tariff. This means we will not charge you these fees.

Before the first monthly payment

Charge	What this charge is for?	How much is the charge?
Funds transfer fee	Electronically transferring the mortgage funds to you or your solicitor.	£35
Legal fees	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 charged by the solicitor, directly to you, unless we tell you that we’ll contribute to the legal costs as part of your product deal.	These fees / costs are charged by the solicitor directly to you.
Product fee	This is charged on some mortgages as part of the deal. It can be paid upfront or sometimes you can add it to your mortgage. 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.	£0 to £999
Re-inspection fee	A re-inspection may be required in the case of some new builds, when the valuer advises that improvement works are to be completed prior to completion or if material changes are being made to the property.	£75
Valuation fee	The lender's valuation report which is used to calculate how much it will lend you. 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.	Dependent on property price (see valuations for more info)

Administration of your mortgage

Charge	What this charge is for?	How much is the charge?
Unpaid Ground Rent / Service Charge Fee	Charged to cover the administrative costs associated with our paying any outstanding ground rent, service charges or associated costs and fees on the mortgaged property following our receipt of a notification that you have not paid such ground rent, service charge or associated and fees when due. This fee is charged in addition to your obligation to reimburse us for the amount of any such ground rent, service charges or associated fees paid on your behalf.	£70

If you change your mortgage

Charge	What this charge is for?	How much is the charge?
Early Repayment Charge (changing your mortgage)	You may have to pay this if: You overpay more than your mortgage terms and conditions allow; or You change your mortgage product during a special rate period (e.g. while you’re on a fixed interest rate).	Please see your mortgage offer for details
Partial release of property fee (including variation of security)	Payable if you want to remove part of the property or land from the mortgage. It covers administration costs, including sealing the relevant legal deed and issuing letters of consent. Our costs when considering any request to vary our security. This includes sealing a deed, deed variation and lease extension.	£95

If you are unable to pay your mortgage

Charge	What this charge is for?	How much is the charge?
Arrears fee	You may be charged an arrears fee on a monthly basis, or when specific events happen in the management of your account when you’re in arrears, with no arrangement to repay in place. This covers charges in respect of your account if you fall behind with your payments.	£40
Home Visit	Charged in relation to the costs of a representative visiting you at your home to discuss your financial situation and proposals to pay the outstanding arrears balance.	£108
Repossession fee	Charged monthly from the point your property is repossessed to cover the administrative costs of our management of the process to secure, insure, market and sell the property. Any costs incurred from third parties to secure, insure, market and sell the property are not included in this fee.	£42

A detailed Arrears and litigation tariff of charges’ will be sent to you once you’re in arrears and before litigation commences. You can get a copy of this from us at any time and we’ll send you a copy if it becomes appropriate.

If you’re struggling with your mortgage payments, please speak to us. Or you could get some free and impartial advice from StepChange Debt Charity. They can be contacted on www.stepchange.org or 0800 138 1111.

Ending your mortgage term

Charge	What this charge is for?	How much is the charge?
Mortgage exit fee	You may have pay this if: • You transfer the loan to another lender; or • Transfer your borrowing from one property to another. You solicitor may charge a separate fee for their work in the redemption of the mortgage.	£ variable

Note – Whilst this tariff includes our current fees and charges in operation from 8 September 2020, these are subject to review by us and may be amended or changed from time to time.

We will only amend our tariff if there is a change in our costs for providing a service. We’ll provide you with an updated tariff of mortgage charges each year with your mortgage statement. You can also ask us for a copy at any time.

If you request a complex or unusual transaction, we may need to charge an additional fee for this but will make you aware of this in advance so you can decide if you wish to proceed.

Unless otherwise specified, all fees are inclusive of VAT where applicable and where we are charged VAT by third parties, we will pass this cost on to you.

Fees and charges shall be imposed in accordance with this tariff, except where the terms and conditions of your mortgage provide otherwise.

If you would like this or any of our other documents supplied in an alternative format e.g. large print, please contact us on www.generationhome.com/customer

Your home may be repossessed if you do not keep up repayments on your mortgage.

If at any time you are having difficulty, or are unable to make your mortgage payment, please contact us.

Imagine Mortgages Limited t/a Generation Home, Exmouth House, London, EC1R 0JH. Company registration number: 11465987