Service charge loan

If you cannot pay your bill for major repairs you can apply for a service charge loan.

Ask about our interest free repayment plan before applying for a service charge loan which is not interest free.

This service charge loan is a mortgage on your property. You'll: 

• repay it over a pre-arranged period up to 25 years
• be charged interest (the rate depends on the type of loan)
• pay an application fee
• pay a redemption fee once you've paid off your loan

You cannot take this loan to pay for day-to-day (minor) repairs and maintenance service charges.

Before applying

You should think carefully before taking out a loan. If you decide you need one you should:

• try to get it from your mortgage provider or other lender first as it may be cheaper
• consider taking out mortgage payment protection insurance to cover payments if you cannot pay
• get advice before proceeding (we do not offer advice)

You could lose your home if you do not keep up with repayments.

If you apply for a remortgage, advance, or new mortgage with another lender the mortgage provider may need more information from us.