New mortgage - early repayment?

chrispier_2

If I took on a new mortgage now, and in, say, 6 months time, was able to pay it off in full, would I be able to? I know the mortgage provider wouldn't like it, but if I took on one that had no early repayment penalies/tie ins etc.

Thanks in advance.

And hello btw

opinions4u

As long as the terms and conditions allow it, there's nothing to stop you.

Quenastoise

That's a lucky position to be in. There are massive amounts of interest to be saved by repaying early but as you know, beware of penalties and tie-ins.

chrispier_2

Yes. Fingers crossed that it works out that way. I have a house to sell but it's not on the market yet, and I've seen a flat that I really want so am going for it.

dimbo61

Consider an offset mortgage
That way you could offset the new mortgage with the money from the sale of the old property !

chrispier_2

I don't really know anything about offset mortgages, but I did have the impression (don't know why - must have read something somewhere) that they were only worth doing on properties over a certain £ amount. The flat I'm buying (hopefully) is only £70k (needs work doing). I'm going to see a broker tomorrow so I'll see what they say about them.