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Exit Fee process
ilnf
Posts: 150 Forumite
Hi.
Quick question:
When remortgaging, do you pay the exit/completion fee before you transfer to your new lender or do they 'invoice' you after?
My current lender is Santander if that makes any difference.
Thank you.
Quick question:
When remortgaging, do you pay the exit/completion fee before you transfer to your new lender or do they 'invoice' you after?
My current lender is Santander if that makes any difference.
Thank you.
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Comments
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Your new lender will be given a redemption figure, that will include the fee. It will all get paid at the same time.I am a Mortgage AdviserYou 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.0
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No there is no need to complete the whole fee before completion as remortgaging is done to reduce the mortgage term – by finding a cheaper deal and keeping repayments the same you could be mortgage-free sooner.0
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leonorschipper wrote: »No there is no need to complete the whole fee before completion as remortgaging is done to reduce the mortgage term – by finding a cheaper deal and keeping repayments the same you could be mortgage-free sooner.
In case you hadn't noticed, this is a UK based website
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