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Adminstrative charge on Capital Repayment
kshamol
Posts: 10 Forumite
My mortgage provider has started charging me £10 for every capital repayment i do. is this normal ???
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Comments
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Halifax charge £10 if you change the term of the mortgage, but otherwise don't (as yet). Might be worth saving up your repayments and doing them once a year?0
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It seems to be a relatively new charge some lenders have added to stop people making too frequent payments and treating normal mortgages like flexible mortgages.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Have you compared cash ISA rates with your mortgage rate?
You might get more in an ISA.
I get 6.25% from Ruffler bank in mine.0 -
Thanks for the info. I am also thinking about doing saving to do big capital repayment to avoid such charge.0
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