Non Resident UK Mortgage charges

Valuation Fees

Following confirmation by the Lender that the proposed Non Resident UK Mortgage (‘NRUKM’) loan has been approved, the Borrower will be required to pre-pay the valuation fees agreed with Lender’s Valuation Panel firms according to the tariff table below.

The instruction to the Valuer will only be given once confirmation is given that the necessary Valuation Fee has been received.

Should valuation of multiple properties in the same instruction be required, discounts are available for second and subsequent properties as a percentage of indicated Valuation Fee for the first property which is deemed to be that with the highest Market Value. These discounts are as follows:

1. For each subsequent property if all in the same block or terrace (single report) 50%
2. For each subsequent property if in different buildings or locations (separate reports) 75%

In addition, if our Panel Valuer has previously valued the property (within the last 6 months) for the Lender or Borrower, the fee will be reduced to 50% of the indicated Valuation Fee.

Should the instruction to value be terminated early for any reason before the final valuation report is issued, the Lender will retain and pass on to the Valuer 25% of the valuation fee if the termination is before the valuation visit or 50% of the valuation fee if the termination is after the valuation visit.

Legal Fees

Following confirmation by the Lender that the valuation report issued to it by the Valuer is satisfactory with no material points of concern raised, they will engage the Lender’s NRUKM Legal Advisor (‘Legal Advisor’) to manage the conveyancing and financing on behalf of the Lender and in conjunction with the Borrower’s own English law firm (‘Borrower’s Lawyer’) who will be required to give an appropriate Fee Undertaking in relation to the cost of the Legal Advisor as indicated below to the Lender and the Legal Advisor. These costs will then be deducted from eventual loan advance upon closing and retained by the Legal Advisor before funds are remitted to the Borrower’s Lawyer.

In relation to the banking aspects of each transaction £2,500

An example scope of works would include:

• Prepare facility letter, standard terms and conditions, security documentation, managing agent’s duty of care agreement, insurance broker’s letter and where relevant corporate authorities and personal guarantee in each case based on required information provided by the Lender and the Borrower’s Lawyer
• Arrange for all counterpart documentation to be signed by Lender
• Check signed documents returned by Borrower’s Lawyer and confirm that the same are in order
• Attend to any required registrations
• Prepare document bibles

This assumes that the borrower is an individual or limited liability company from Jersey, Guernsey, Isle of Man or the UK or a UK limited liability partnership.

In relation to the property aspects of each transaction

• Review of each lease in place on the property to be secured £500
• If Certificate of Title prepared by Borrower’s lawyers £3,000 for up to 3 properties

An example scope of works would include:

• Review a certificate of title (being City of London Law Society Long Form) in relation to the property prepared by the Borrower’s Lawyer
• Prepare an overview report on the certificate of title
• Liaise with the Valuer to ensure there is nothing in the certificate of title and overview report that would impact the valuation report

If the Certificate of Title needs to be prepared by Legal Advisor and not by Borrower’s Lawyer £4,000 per property

An example scope of works would include:

• Review the title for the property (e.g. the official copy, title documents, searches and responses to enquiries) and prepare a report on title
• Liaise with the Valuer to ensure that there is nothing in the report on title that would impact the valuation report

In all cases, if VAT or an equivalent sales tax is payable in relation to the service for which the Fee is levied, this will be added to the sums indicated and will be payable by you.

Santander International is the trading name of Santander Financial Services plc, Santander Financial Services plc, Jersey Branch and Santander Financial Services plc, Isle of Man Branch. Santander Financial Services plc is incorporated in England and Wales with number 2338548 and its registered office is 2 Triton Square, Regent's Place, London NW1 3AN, United Kingdom. Santander Financial Services plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Santander Financial Services plc's Financial Services Register number is 146003. Santander Financial Services plc, Jersey Branch has its principal place of business at 13-15 Charing Cross, St Helier, Jersey JE2 3RP, Channel Islands and is regulated by the Jersey Financial Services Commission. Santander Financial Services plc, Isle of Man Branch has its principal place of business at 19-21 Prospect Hill, Douglas, Isle of Man IM1 1ET and is regulated by the Isle of Man Financial Services Authority. www.santanderinternational.co.uk. Santander and the flame logo are registered trademarks. The latest audited accounts are available upon request. Calls to Santander International are recorded and may be monitored for security and training purposes.