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£75 to switch to Interest Only!?
dunnc64_2
Posts: 45 Forumite
Hi guys
Hope one of you can help. I would like to switch my mortgage to Interest Only for about 4 months, or maybe until my current deal ends in Janurary, then I can switch (I cant get out of the deal as there is a £2k Early redemption fee)
I called Natwest and they said I can switch but it will cost £75 in admin fee's? Is this correct? Any way to get out of it or claim it back? Thanks in advanced.
dunnc64
Hope one of you can help. I would like to switch my mortgage to Interest Only for about 4 months, or maybe until my current deal ends in Janurary, then I can switch (I cant get out of the deal as there is a £2k Early redemption fee)
I called Natwest and they said I can switch but it will cost £75 in admin fee's? Is this correct? Any way to get out of it or claim it back? Thanks in advanced.
dunnc64
0
Comments
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You are asking them to complete a transaction which will cost them money. It is only fair you pay for that and £75 is a tad expensive but in line with what you would expect.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Sounds right in a commercial world and not over the top.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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