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Final Mortgage Payment when Selling
ToriF
Posts: 48 Forumite
Hi all,
Quick question I'm hoping someone can help with..
So I am in the process of selling my house at the moment (fingers crossed it all goes smoothly!)
I will be ending my mortgage as I won't be buying another house for a few months ,, and the bank won't let me keep / transfer it anyway.
I have an Early Repayement Charge on it which drops down 1% on the 1st July so I have stated I need to complete after this date.
But do I also need to exchange after this date or can that be done before?
So my question is at what point does the mortgage get paid.. or rather at what point do the solicitors request the balance from the bank?
Thanks
Quick question I'm hoping someone can help with..
So I am in the process of selling my house at the moment (fingers crossed it all goes smoothly!)
I will be ending my mortgage as I won't be buying another house for a few months ,, and the bank won't let me keep / transfer it anyway.
I have an Early Repayement Charge on it which drops down 1% on the 1st July so I have stated I need to complete after this date.
But do I also need to exchange after this date or can that be done before?
So my question is at what point does the mortgage get paid.. or rather at what point do the solicitors request the balance from the bank?
Thanks
0
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