Select the applicable help topic:
Outstanding mortgage balance
Details of mortgage with another lender
Other fees applicable when moving
Details of Standard Life mortgage
Total cost of moving
Required reduction in interest rate
Outstanding mortgage balance
This is the balance you have left on your existing mortgage with us. You can also include any additional borrowing you may be looking to take.
Details of mortgage with another lender
These are the details of the mortgage with the lender that you may be considering remortgaging to and include:
Duration of initial rate
This is the timescale of any initial rate offered – eg, 3 year discount; 5 year fixed. Please enter the amount in months.
Arrangement or booking fee
This is the fee(s) you may need to pay for taking on the new mortgage.
Valuation fee
This is the fee you may need to pay for arranging a valuation of your property.
Legal fees
These are the fees that may be payable to your lender or solicitor for arranging the mortgage.
Other fees
This could include any fees you may pay to a financial adviser, or other fees that a lender may charge you such as administrative fees or higher lending charges.
Other fees applicable when moving from one lender to another
There are a number of other fees applicable to move from one lender to another. The mortgage discharge fee and the deeds dispatch fee are administration fees that may be payable when you move your mortgage from us.
CHAPS stands for Clearing House Automated Payment System. This is a same day money transfer from one bank account to another.
The fees outlined provide an indication of these costs. Please note, the mortgage discharge fee applicable to your mortgage will be specified on your offer.
Details of Standard Life mortgage
If you stay with Standard Life Bank after your discount or fixed rate ends, you can move onto our competitive standard variable rate with access to a number of preferential rates on other products. If this is the case, please leave this field blank as there is no fee to pay.
Total cost of moving
This is a total of all the fees you have entered, plus any difference in arrangement/booking fee costs between our mortgage and the other lender.
Required reduction in interest rate
This divides the total fees you have entered by the duration of the initial rate with another lender. This figure is then presented as a percentage of the mortgage balance - which is the required reduction in interest rate you would need to make moving worthwhile.
