Can I pull out of a new mortgage before the product tansfer date ?

Rob_Clark · 27 July 2011 at 7:43PM

Hi,

My current product with Accord expires at the end of August, and I have already signed up to a new product the same lender commencing the 1st September.

My circumstances have changed and I want to sell my property. I now want to pull out of re-entering another term and revert to the lenders standard variable rate for the short duration after August whilst the sale goes through.

I am of the mind that, although I have signed the transfer agreement, as the new term has not started to run yet, I should be able to do this.

After having been on hold for over one hour throughout the day and requested a call back four times because nobody knew the answer, thought I would look for some informaton on the overarching principle.