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Higher Lending Charge
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Higher Lending Charge

Higher Lending Charge is a policy with a single premium which is usually added to the loan. The Premuim is usually charged on mortgages where the Loan to Value is higher than 90%. The preimum is usually calculated to cover the amount of the loan above 75% and the rate is dependent upon the LTV; the higher the LTV the higher the rate applied to calculate the premium charged.