In addition to the costs (Mortgage type examples), you will also be responsible for the Bank's legal costs, which will depend on the mortgage amount. A written estimate of the Bank's legal costs will be made available to you upon request and when your loan application is agreed. You should also bear in mind that you will have your own legal costs and expenses (e.g. taxes) to meet in respect of your purchase of the property. You may also have the opportunity of using the same law firm as the Bank and they may be able to offer you a discounted price. Please contact us for more information.
Suitable property insurance will be a condition of the mortgage, but is not arranged by the Bank and is your sole responsibility. Whilst we do not usually make life insurance a condition of the mortgage, you should consider if you would like to arrange cover to repay the loan in the event of death or loss of income from illness. There are various types of life cover available, but this is not arranged by the Bank and you should take your own independent advice.
Below is an illustrative example of two different mortgages types offered by Trusted Novus Bank.
Please note overall rate subject to change in line with Bank of England Base Rate.
