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
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply

Selling house during fixed mortgage

lindarasdale
lindarasdale Posts: 2 Newbie
in Mortgages & endowments
Hi Guys. Myself and my partner are thinking about selling our house. We are in our 3rd year of a fixed rate mortgage. We are not sure what the implications of this might be and how much it might cost in fees. Do you have any advice or information that might help us make an informed decision?

Comments

  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Have a look at your mortgage offer. It will state any fees due for early repayment and state when the period expires.

    Are you looking to buy another property? If so check with the lender if you can port the mortgage.
    I am a Mortgage Adviser
    You 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.
  • lindarasdale
    lindarasdale Posts: 2 Newbie
    3rd year of a 5 year fixed mortgage!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    AS GMs says. Look at your mortgage paperwork to see what ERC (Early Repayment Charge) is payable to exit your deal.
  • somethingcorporate
    somethingcorporate Posts: 9,449 Forumite
    Look at your latest mortgage statement, it should have the latest ERC payable if you redeem your mortgage (ours did we got last week).
    Thinking critically since 1996....
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.9K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.5K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture