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early payment charges
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clb_3
Posts: 1 Newbie
any advice on early settlement penalties for your mortgage just been told we will have to pay £6,500 to settle early
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Comments
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They would have been on the terms of your offer, which you signed. Therefore the 'advice' is to pay them or stick to the terms of your contract0
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A redemption penalty of £6500 is rather steep, but if you have signed the terms and condictions, you will have to pay it.
However I beleive The Chelsea Building Society do a cahback mortgage, other financial institutions will offer similar products. I'd try https://www.moneysupermaket.com or an IFA.
GoodluckLic.0 -
are you moving to a new property clb? is your existing mortgage portable where you can possibly transfer your existing mortgage product/interest rate to new property, avoiding penalties ?0
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