We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
paying up fixed rate morgage early!
kymrob
Posts: 411 Forumite
we are hoping to finish our lloydstsb morgage next summer but will still have 2 years left on our fixed rate,
we will hopefully pay £8000 lump sum in jan leaving £5000 left we already have £2000 in our account for the final payment leaving £3000 to save.
now do anyone know if i will need to pay a sum as i have paid it up early? is it work just leaving couple hundred till end of fixed rate?
if i do have to pay is it on the last payment eg. if i leave couple hundred wouldnt thought it would be much?
we will hopefully pay £8000 lump sum in jan leaving £5000 left we already have £2000 in our account for the final payment leaving £3000 to save.
now do anyone know if i will need to pay a sum as i have paid it up early? is it work just leaving couple hundred till end of fixed rate?
if i do have to pay is it on the last payment eg. if i leave couple hundred wouldnt thought it would be much?
0
Comments
-
We are doing thei same and we are in 5 year fixed and we will be 2 years early what will happen is the offset will counter the balance and we will not pay any monthly payments and after end of the five years consolidate the mortageband no early payment charges.
Good luck offset it don't pay it off0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards