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mortgage settlement
Notebook
Posts: 296 Forumite
hi
paid about 15k off my mortgage a year ago due to redundancy - charged me about £700 for this. Anyway, now owe about 3k, new job and have the money to clear, and wondered if anyone has escaped penalties if paying off early? begging letter etc
Thanks
paid about 15k off my mortgage a year ago due to redundancy - charged me about £700 for this. Anyway, now owe about 3k, new job and have the money to clear, and wondered if anyone has escaped penalties if paying off early? begging letter etc
Thanks
0
Comments
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Check the terms of your mortgage. Often you can overpay without penalties up to a certain amount.
If it will cost you to clear it make the most overpayments you can and clear when out of Early Repayment Charge period.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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