Fees and Charges

The information below provides details of the internal charges made by BEF Group in respect of actions and events that may occur during the course of your loan agreement including legal action.

VARIABLE FEES

• Loan arrangement fee: 3.5% of loan amount, payable prior to drawdown by Cheque or BACS. (subject to a minimum of £50.00).
• Early settlement fee: Please refer to Section (4) Repayments of our Terms of Engagement.
  

OVERPAYMENTS

In any one year overpayments are permitted up to 5% of the original amount of capital advanced. Over payments above 5% will be subject to a 3.5% charge against the payment made.

SECURITIES

• Company Debenture: £275 (per item)
• 2nd charge on land: £275 (per item)
• Chattel Mortgage: £275 (per item)
• First Charge/ Property Purchase: £375

If more than 3 hours work is done by our legal and admin teams in arranging the security then the fixed fee will no longer apply, you will be notified and charged at the appropriate hourly rate below.

HOURLY RATES

The following rates will apply for work done by BEF’s in-house team. Work will be recorded in time segments of 10 minutes and charged to the loan account.

• Qualified Lawyer: £150 per hour
• Trainee Lawyer & Paralegals: £100 per hour
• Administration Staff: £60 per hour

ENTERPRISE FINANCE GUARANTEE

2% per annum of outstanding capital. Paid via quarterly fee by direct debit to scheme administrators

FIXED FEES

• Variation to Loan Agreement: £25
• Default Notice: £25
• Termination Letter: £25

DISBURSEMENTS

Any legal costs and expenses reasonably incurred by BEF in respect of a loan agreement properly entered into will normally be passed onto the Client. Except where such costs and expenses result from the Fund’s own negligent acts or omissions.