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Early repayment fee

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mrslynas1

mrslynas1 Posts: 1 Newbie

7 March 2007 at 5:16PM in Mortgages & endowments

My bank (lender) has advised me that I will owe them £900 when I come to re-mortgage my flat via another lender. Apparently I have been tied to a 3 year agreement and will be forced to pay this penalty as I will be moving lender within the 3 year period. Any suggestions would be great.
Regards
Roy

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Comments

danjberry Posts: 180 Forumite

7 March 2007 at 5:23PM

dont move, or pay the fee im afraid. Why do you want to leave them anyway?

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sammyjammy Posts: 7,945 Forumite

7 March 2007 at 5:25PM

http://forums.moneysavingexpert.com/showthread.html?t=394843

see this thread it might help answer your question.

Sam

"You've been reading SOS when it's just your clock reading 5:05 "
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middo2905 Posts: 25 Forumite

8 March 2007 at 12:27PM

My early repayment fee increases the nearer I get to the 'end of tie-in' date which is June. Don't quite get how this works!!

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