Relendex is committed to being transparent in its dealings with Borrowers and this Tariff of Fees & Charges sets out the circumstances when you may incur a fee or charge during the lifetime of your loan.
This tariff is designed to reward borrowers who maintain their accounts in good order and communicate regularly with Relendex.
Setting up Your Loan
| Fee | Description | Amount |
|---|---|---|
| Commitment Fee | Charged when credit-approved terms are issued. Refundable if Relendex does not fund your loan (no fault of your own). | 0.25% of the Gross Loan |
| Arrangement Fee | Charged for arranging and completing your loan. Includes the Commitment Fee. | 2% of the Gross Loan or as per Term Sheet |
| Valuation Fee | Paid directly to the 3rd party valuer. | Individually quoted |
| Monitoring Surveyor Fee | Paid directly to 3rd party surveyor for feasibility assessment. | Individually quoted |
| Relendex Site Visit Fee | If Relendex staff conduct a site visit instead of an MS. | £250 + travel costs |
| Legal Fees | Paid to Relendex’s solicitors for title review, registration, and other legal services. | Individually quoted |
| Funds Transfer Fee (initial) | Charged for transferring initial loan funds. | No charge |
During the Life of Your Loan
| Fee | Description | Amount |
|---|---|---|
| Monitoring Surveyor Fees | Ongoing project monitoring or drawdown approvals. | Individually quoted or £250 if Relendex staff perform inspection |
| Funds Transfer Fee (drawdowns) | Transferring drawdowns to borrower. | No charge |
| Early Repayment Fee | Minimum interest payable if repaid early. | As per Term Sheet |
| Consent to Lease Fee | For Relendex consent to new leases. | No charge* |
| Deed of Postponement Fee | For charge priority changes. | No charge* |
| Letter of Non-Crystallisation Fee | Provided to another lender. | No charge* |
| Subsequent Mortgage Questionnaire Fee | Information provided to another lender. | No charge* |
| Change to Loan Details Fee | For changes to parties or guarantors. | No charge* |
*Legal fees may apply and will be advised if applicable.
At the End of Your Loan
| Fee | Description | Amount |
|---|---|---|
| Repayment Fee | Charged on full or partial repayment. | 1% of GDV or as per Term Sheet |
| Relendex Redemption Fee | Handling repayment with solicitors. | No charge |
| Legal Fees on Redemption | Paid to Relendex’s solicitors. | Included in original Legal Fee |
If Your Loan is Not Repaid on Time or Defaults
| Fee | Description | Amount |
|---|---|---|
| Term Extension Fee (Authorised) | Request made ≥30 days before expiry. | 0.5% of Gross Loan (up to 3 months) |
| Term Extension Fee (Unauthorised) | Request made <30 days before expiry. | 1% of Gross Loan (up to 3 months) or 2% (up to 6 months) |
| Default Fees | To manage accounts in default. | £500 initial + £250/month until resolved |
| Late Payment Administration Fee | For late receipt of scheduled payments. | £250 |
| Relendex Monitoring Fees | Staff inspections during default. | £250 per inspection + travel |
| Agents’ Monitoring Fees | Third-party appointed agent reports. | Individually quoted |
| Solicitor Referral Fee | Account referred to solicitor. | £100 |
| LPA Receiver Appointment Fee | Charged upon appointment of receiver. | 2% of outstanding debt |
Note:
This list covers most common fees but is not exhaustive. Fees may vary based on the complexity and loan specifics. If the Term Sheet or Facility Letter provides different fee details, those documents take precedence. The tariff is reviewed periodically, at least annually.