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What is a Higher Lending Charge (HLC)?

April 26, 2017charge hlc lending

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What is a Higher Lending Charge (HLC)?

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The HLC is a charge used to protect the Society in the event that you default on your mortgage. The charge will be added to your mortgage account as a one off premium. For loans between 75% and 90% of the valuation or purchase price, you will not have to pay a penny, we will credit your mortgage account with an amount equivalent to the HLC on completion. Above 90% you are liable for the full amount above 75%.