Additional Security Fee

Additional Security Fee

An up-front, one-off fee paid to the lender to protect against the borrower defaulting on the loan. This is usually charged on mortgages of more than 75% of the property value. Also known as Indemnity Guarantee Premium and Mortgage Indemnity Premium.

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Gordon Brown has today announced that Stamp duty is to be suspended for a year, on properties that cost up to £175,000 in a bid to boost the ailing housing market. The long-awaited freeze on the unpopular levy is to take place from Wednesday. It forms part of an emergency rescue package for hard-pressed home buyers and [...]
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