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Lump Sum Mortgage Repayment - what are the penalties?
londonman81
Posts: 1,130 Forumite
Simple question - I'm about to buy a property and just want to know what penalty I would incur if I wanted to sell it in future and repay the entire mortgage so as to be mortgage-free again (assuming some capital aprpeciation).
Is there a ball-park figure for this kind of thing?
Thanks
Is there a ball-park figure for this kind of thing?
Thanks
"To be ignorant of one's ignorance is the malady of the ignorant." Amos Bronson Alcott
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Comments
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Exit penalties will depend upon the specific products you apply for. Some carry none.0
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I would estimate between £0 and 5% of the mortgage amount.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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