pay of my mortgage bar a penny 25 September 2013 at 8:57AM in Mortgage-free wannabe 1 reply 518 views

rwster

going to pay off my mortgage in the next week have had a letter saying i have an extra £295 to pay as i will be paying it off early, what if i pay it off bar a penny or so , what will happen ?

SmlSave

Ohh, well done for being that position rwster.

First check with your bank how much you can pay off without the extra charge - just in case.

If you leave a few pounds in the account then it will continue as your mortgage until the end of the fixed term and you can pay it all off then!