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Early repayment fee advice
piglint
Posts: 30 Forumite
Advice please,paid a fixed rate mortgage off three years ago (changed lenders) .I was charged £1000 pounds early repayment fee despite there being only ten days left to run of fixed mortgage term of two years.Could i claim any of this back?
0
Comments
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No. Out of interest, why didn't you wait ten more days?0
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a line has to be drawn in the sand at some point. If they moved it back 10 days then those 20 days away would want letting off as well.
A lender will often let you off with such a short time left if you are moving house and keeping the new mortgage with them. However, if you are changing lenders there is no incentive at all whatsoever for them to do so and no legal reason for them to do so either.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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