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Redemptions fees question. Any way to get reduced?
charlieplus4
Posts: 1 Newbie
Is there anyway that a redemption fee can be reduced. We have sold our house at a loss and have a 18 grand redemption to get out of the mortgage. We cannot afford to move the mortgage as there is nothinbg out there so are having to rent. Any advice would be gratefully recieved as even after selling we will have a small amount of debt because of this redemption fee. Many Thanks Charlie
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Comments
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Almost certainly no chance.
Who is the lender?
What's in it for them?0 -
Most will allow you to port the mortgage, providing you meet lending criteria. However, there is virtually no chance getting the ERC waived unless you have a couple of months to go.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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