Fees

Loan Servicing Fee

All loan fees are paid by the borrower and debited from the borrower's account on the Interest Payment Dates.

The Loan Servicing Fee consists of:

• 0.07% of the amount borrowed, calculated monthly on an actual calendar day basis and payable per month of the loan term; and
• a fixed fee spread over the term of the loan and paid monthly (for callable loans: a fixed fee, based on a 12-month loan term, paid monthly for the period of time the loan is active). The fixed fee varies according to the size of the loan as per this table:

Example:

The Loan Servicing Fee for a GBP 200,000 loan with a 18 months term totals GBP 5,220* and is calculated as follows: GBP 200,000 x 0.07% x 18 = GBP 2,520* plus GBP 100,000 x 1.4% + GBP 100,000 x 1.3% = GBP 2,700*.

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Loan Renewal

For Loan Renewals, the Loan Servicing Fee applies minus 20%. The maximum renewal term is 60 months; the minimum is 3 months.

Prepayment

All or part of a loan can be repaid before maturity; multiple partial repayments are possible if made in different interest payment months. A prepayment fee is payable, which is, for partial prepayments, the total unpaid Loan Servicing Fee for the prepaid loan amount and remaining loan term. For full prepayments, the fee consists of the total unpaid Loan Servicing Fee for the remaining loan term. The prepayment fee is deducted from the borrower's account when the prepayment is processed.

*approximation as the exact amount depends on number of days in the month

Storage

A storage fee applies for the metal you hold in Approved Vaults. The fee is payable in currency and is deducted monthly in arrears or on the day metal is transferred out of Lend & Borrow Trust. The fee is calculated daily at the following annual rates:

The LBMA Gold Price* and LBMA Silver Price* as reported on the last business day of the calendar month on the LBMA's website are used to calculate the monthly fee.

All metal owned by customers of Lend & Borrow Trust is safely stored in specialised bullion vaults and insured for loss arising from theft and other commercial risks. The cost of insurance is paid by Lend & Borrow Trust.

*The terms LBMA Gold Price and LBMA Silver Price are the property of the London Bullion Market Association.

**Inclusive of UK VAT (Value-Added Tax).

Metal sell

The following fee is charged when selling precious metal, calculated as a percent of the currency amount received.

• Gold: 0.50% of the total sale
• Silver: 0.50% of the total sale

The minimum fee per transaction is £100 (or currency equivalent).

Foreign exchange

Foreign exchange transactions are executed by the bank at which your funds are held. LBT charges a fee of 0.30% of the currency amount received after the bank has deducted its own foreign exchange fees up to a maximum of £750 (or currency equivalent).

Bank transfers

The fees for funds transferred to a Nominated Bank Account are confirmed below. Any bank charges incurred for funds transferred to LBT are to be paid by the customer who initiated the transfer.

• CAD - Canadian dollars
  • 35.00 per transfer

• CHF – Swiss francs
  • 25.00 per transfer

• EUR – euros
  • 25.00 per transfer / SEPA 5.00

• GBP – British pounds
  • 20.00 per transfer including CHAPS / UK BACS free

• USD – US dollars
  • 25.00 per transfer