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Early redemption mortgage, ways to minimise exit fees?
Comments
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By redeeming the mortgage you'll save X in interest.
However you will pay Y in ERC's.
On your savings you would have earnt Z in interest.
So do the sum X minus Y minus Z.
If the answer is positive you should redeem.
If the answer is negative then you should wait.0 -
Interest only upto the end of the charge period, you have to take into account the penalty free payments that can be made, either one offs or monthly.0
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