AFHOS owners

Summary of fees and charges

There are charges payable in a number of circumstances, as set out below:

Reason for charge/fee	One off charge	When due	Annual charge
Sub-letting	£65	Within 7 days of notification	£200
Move away from base	£65	Within 7 days of notification	£200
Remortgage	£65	At time of application
Part redeem loan	Valuation fee + £65	At time of application
Fully redeem loan	Valuation fee + £65	At time of application
Improvements	£65	At time of application
Change of name(s)	£65	At time of application
Selling	Valuation fee + £65	At time of application
Porting (moving house and taking the loan)	£1500 plus valuation fee	At time of application

Please note that these are the charges payable to Swaythling Housing Society Ltd. You should remember that you will have other fees to pay in these situations as well (eg solicitors, estate agents, letting agents, mortgage company fees etc).

How are the fees calculated on the scheme?

There are no charges on the equity share for personnel as long as they remain in the Armed Forces. Please click here for details of the fees charged upon leaving the service.

The example below shows how fees are calculated if and when they become due. The table below illustrates how this would work on a 30% Second Charge of £60,000.

Start of year	Government assistance	Fee percentage	Annual fee due	Estimated monthly payment
1	£60,000	n/a	n/a	n/a
2	£60,000	2% below SVR*	£1,500**	£125
3	£60,000	1% below SVR	£2,100	£175
4	£60,000	SVR of the day	£2,700	£225
5	£60,000	1% above SVR	£3,300	£275
6	£60,000	2% above SVR	£3,900	£325
7	£60,000	2% above SVR	£3,900	£325

* SVR is the Standard Variable Rate of Royal Bank of Scotland at the time **Example assumes SVR of 4.5%

The payment of fees does not contribute towards repaying the Second Charge. If a buyer partially repays or wants to make full repayment of the Second Charge, any fee arrears must be repaid at the same time.

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