Porting mortgage - mad bloke on telephone

puddy

well im with sharkelys, and i ported my mortgage last year. old mortgage was fixed rate with redemption for 66k

new house was being bought with a partner, whereas old mortgage was in my name only

so we had to apply for new mortgage as its a new property, then the process is that the old mortgage gets paid off, the new mortgage is released. when the old mortgage is paid off the redemption fees were taken, but then reinbursed when the new mortgage was released. i dont know why they did it like that, possibly because the new mortgage was a joint mortgage, but they insisted that it took a whole new application, no fees though as it was being ported

you probably will pay a redemption on some of that because you're paying off a large amount of it. i was told that i could pay off about half off mine and not pay a redemption but i cant remember the whole thing now

sunstormrider

GDB2222 wrote: »

When I read the original post, I thought it must be a wind-up.

To those that gave the good advice - many thanks. This was no wind-up.

And to those that automatically jumped to such a conclusion - perhaps you should think again. !!!!!! ask my first question on this forum and get ridiculed for it.

Milliewilly

_Andy_ wrote: »

"only.." yep, £2,000 is just pocket money. Chump change.

Not really - many people lose this amount every day by trading in their cars to buy another one rather than the hassle of selling privately and buying privately.

2K is not a lot in the scheme of buying and selling a house if you get to move on with the transaction and your life.

VIGILANT22

2k is a lot to forego just cause you dont understand a conversation!