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Answers for Scotland

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Question: 10.8. What, if any, interest does the lender charge if return of the advance is delayed?

Lender Answer
Accord Buy to Let Interest will be charged at the rate payable by the borrower under the terms of the mortgage.
Accord Mortgages Ltd Interest will be charged at the rate payable by the borrower under the terms of the mortgage.
Adam & Company Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
Adam & Company International Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
Aldermore Bank PLC The rate detailed in the Mortgage Offer.
Allied Irish Bank (GB), a trading name of AIB Group (UK) Refer to AIB Group (UK) plc, Central Securities (GB), 92 Anne Street, Belfast, BT1 3H
Atom Bank plc Interest will be charged from the date we sent the money to you until the date the loan funds are returned and cleared. The interest rate will be that on the mortgage offer.
Aviva Equity Release UK Ltd Interest is charged from when the money is released
Bank of China Full interest of the Loan, daily rate of interest charged at the rate of interest specified in the Mortgage Offer.
Bank of Ireland (UK) plc We reserve the right to charge you interest at the rate applicable to the mortgage.
Bank of Ireland as Bank of Ireland Mortgages We reserve the right to charge you interest at the rate applicable to the mortgage.
Bank of Scotland Beginning A We will charge you interest, at the rate applicable to the mortgage as shown in the mortgage offer, calculated daily, from the original completion date (first working day) until we receive the funds back or the revised completion date whichever is the sooner.
Bank of Scotland Beginning O Interest rate as detailed in the Mortgage Offer.
Barclays Bank UK PLC Interest is charged at the rate specified on the offer of advance
Birmingham Midshires The contractual rate in the mortgage offer from the date on which the funds were sent to you.
Bluestone Mortgages Interest will be charged at the rate payable by the borrower under the terms of the mortgage.
Bradford & Bingley Limited We reserve the right to charge Interest at 4% above the Bank of England's base rate
Britannia, a trading name of The Co-operative Bank plc We charge interest at the Bank of England base rate
Chelsea Building Society (a trading name of Yorkshire BS) Interest will be charged at the rate payable by the borrower under the terms of the mortgage.
Clydesdale Bank plc Interest is charged at the rate specified in the mortgage offer.
Co-operative Bank plc Interest is charged at the rate specified in the Mortgage Offer.
Coutts Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
Coventry Building Society If we are not in receipt of returned funds within 48 hours of release, interest, equivalent to the daily rate applicable to the relevant mortgage scheme, will be charged.
Darlington Building Society We reserve the right to charge you interest at the rate applicable to the mortgage.
DB UK Bank Ltd Interest will be charged at the contractual interest rate applicable to the relevant mortgage product or scheme
Ecology Building Society We reserve the right to charge interest at the rate applicable to the mortgage
First Direct Interest will be charged from the date of receipt by you until the date of payment or return of the advance to us. The rate of interest will be that stated in the mortgage offer
Foundation Home Loans Interest at the rate appearing in the Offer will be charged from the date of the advance to the date the funds are re-credited to our bank account.
Furness Building Society The rate applicable to the mortgage loan.
GE Money Home Lending Ltd GE Money Home Lending has withdrawn from the UK mortgage market.
Godiva Mortgages Ltd If we are not in receipt of returned funds within 48 hours of release, interest, equivalent to the daily rate applicable to the relevant mortgage scheme, will be charged.
Halifax The contractual rate in the mortgage offer from the date on which the funds were sent to you.
Halifax Loans Ltd We reserve the right to charge you interest at the rate applicable to the mortgage.
Hampden & Co. plc Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the advance from the day the funds are released to the conveyancer until the day the funds are re-credited to the Bank's account.
Handelsbanken The mortgage rate agreed with the borrower.
Hodge Interest will be charged at the interest rate applicable to the mortgage advance from the day the funds are released until the day the funds are re-credited to Hodge’s Bank account.
Hodge Equity Release Interest will be charged at the interest rate applicable to the mortgage advance from the day the funds are released until the day the funds are re-credited to Hodge’s Bank account.
HSBC UK Bank plc Interest will be charged from the date of receipt by you until the date of payment or return of the advance to us. The rate of interest will be that stated in the mortgage offer
HSMS We reserve the right to charge Interest at 4% above the Bank of England's base rate.
Intelligent Finance We reserve the right to charge you interest at the rate applicable to the mortgage.
ITL Mortgages If we are not in receipt of returned funds within 48 hours of release, interest, equivalent to the daily rate
applicable to the relevant mortgage scheme, will be charged.
Kensington Mortgage Company Ltd Interest at the rate appearing in the Offer will be charged to the Borrower from the date of the transfer of funds from Kensington. If completion does not occur immediately, you must place the money in an interest bearing account and account to Kensington for the interest. If completion does not occur within 5 working days, the money plus the accrued interest must be returned to Kensington.
Landbay Partners Limited See the mortgage offer. Interest is charged from the date that monies are advanced to solicitors. We will charge interest at the rate stipulated within the mortgage offer in the event that the advance is not returned to us in a timely manner.
Landmark Mortgages Limited Interest is charged on all amounts debited to your Client's account until the loan funds released to you are returned and cleared in the account. Interest will be charged at the rate of interest applicable to the mortgage on all amounts debited to the account.
Leeds Building Society Interest will be charged at contractual rate of interest as set out in the Mortgage document from the date that the funds were sent to you until we receive the funds back or until the revised completion date.

For Limited Company Buy to Let loans interest will be charged at the contractual rate of interest as set out in the Mortgage document from the date set out in the applicable terms and conditions.
Legal & General Home Finance Ltd If unable to return funds on scheduled completion date interest will be charged at the rate of our funding costs.
LendInvest Interest at the mortgage rate from the date the funds are released to you.
LiveMore Capital 2.0% per annum above Bank of England base rate
Lloyds Bank plc pre fixed 40 The contractual rate in the mortgage offer from the date on which the funds were sent to you.
Lloyds Bank plc pre fixed 50 The contractual rate in the loan agreement from the date on which funds were sent to you.
Lloyds TSB Scotland plc The contractual rate in the loan agreement from the date on which funds were sent to you.
M&S Bank Interest will be charged from the date of receipt by you until the date of payment or return of the advance to us.
The rate of interest will be that stated in the mortgage offer
Magellan Homeloans At the rate detailed in the mortgage offer from the date the advance is released
Masthaven Bank Interest will be charged at the rate payable by the borrower under the terms of the mortgage.
Metro Bank Plc Product pay rate
Mortgage Agency Services We reserve the right to charge interest at the rate applicable to the mortgage
Mortgage Express We reserve the right to charge Interest at 4% above the Bank of England's base rate.
Mortgage Express No 2 We reserve the right to charge Interest at 4% above the Bank of England's base rate.
National Westminster Bank plc We do not charge interest at the moment but reserve the right to do so.
Nationwide Building Society We charge our borrower(s) interest from the same day that the advance is released
Nedbank Private Wealth Ltd Interest will run from the date on which funds are made available to you.
New Street Mortgages Interest at the rate appearing in the Offer will be charged to the Borrower from the date of the transfer of funds. If completion does not occur immediately, you must place the money in an interest bearing account and account to New Street for the interest. If completion does not occur within 3 working days, the money plus the accrued interest must be returned to New Street.
NRAM Ltd Interest is charged on all amounts debited to your Client's account until the loan funds released to you are returned and cleared in the account. Interest will be charged at the rate of interest applicable to the mortgage on all amounts debited to the account.
Paragon Buy to Let Mortgages Interest is charged at the rate specified in the mortgage offer from the date of receipt by you until the return of the advance to us.
Platform (a trading name of The Co-operative Bank p.l.c.) The rate quoted in the mortgage offer.
Precise Mortgages (Charter Court Financial Services Ltd) We have the right to charge interest for the whole period you have the funds (from the date you receive the funds) at a rate applicable to the Mortgage.
Rooftop Mortgages Ltd Daily interest from release of advance
Sainsbury's Bank Interest will be charged at the interest rate applicable to the mortgage advance from the day the funds are released until the day the funds are re-credited to the Sainsbury's Bank account.
Santander UK plc Please refer to our Certificate of Title for all administrative arrangements.
Scottish Building Society The Society reserves the right to make a charge in respect of any interest lost to the Society.
Scottish Widows Bank Interest rate as detailed in the Mortgage Offer.
Skipton Building Society Interest will be charged at the interest rate(s) applicable to the loan for each day’s delay in returning the funds.
St James Place Bank We reserve the right to charge you interest at the rate applicable to the mortgage.
The Mortgage Business We will charge you interest, at the rate applicable to the mortgage as shown in the mortgage offer, calculated daily, from the original completion date (first working day) until we receive the funds back or the revised completion date whichever is the sooner.
The Mortgage Lender Limited Interest at the mortgage rate from the date the funds are released to you.
The Mortgage Works Full interest.
The Royal Bank of Scotland plc Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
The Royal Bank of Scotland plc Direct Line Mortgages Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
The Royal Bank of Scotland plc Direct Line One Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
The Royal Bank of Scotland plc First Active Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
The Royal Bank of Scotland plc Natwest one Account Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
The Royal Bank of Scotland plc One Account Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
The Royal Bank of Scotland plc Virgin One Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
Topaz Finance Ltd Interest is charged at the rate specified in the Offer of Advance.
TSB Bank plc The contractual rate in the loan agreement from the date on which funds were sent to you
UCB Home Loans Corporation Ltd Full interest.
Ulster Bank Interest is calculated on the daily balance outstanding and will be charged at the interest rate applicable to the mortgage advance from the day the funds are released to the conveyancer until the day the funds are recredited to the Bank's account.
Vida Homeloans Any rate detailed in the Mortgage Offer and the Mortgage Offer Summary.
Virgin Money If completion is delayed and you tell us, we won’t charge interest until completion, where you are holding funds in accordance with clause 10.7.
If you continue to hold funds beyond the time specified in clause 10.7, we will charge interest at that point.
Interest is charged at the rate applicable to the loan.
Whistletree (a trading name of TSB Bank plc) Interest is charged on all amounts debited to your Client's account until the loan funds released to you are returned and cleared in the account. Interest will be charged at the rate of interest applicable to the mortgage on all amounts debited to the account.
Yorkshire Bank Home Loans Ltd Interest is charged at the rate specified in the mortgage offer.
Yorkshire Building Society Interest will be charged at the rate payable by the borrower under the terms of the mortgage.