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Help with early repayment charges
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inspiremetosave
Posts: 160 Forumite
Hiya,
Just wondered if anyone had any advise please.
We are in a 2 yr fixed with the Woolwich which ends 13/01/08. We have just sold our house and hoping to move ASAP. We cannot wait til January when the 2 yr fixed runs out do to personal reasons. The Woolwich will not lend us the amount we require for out new house (short in the region of £70,000) Although many other lenders will which we can afford comfortably. The Woolwich wish to charge us £3,700 as an early repayment charge, although we only pay £400 per month for out mortgage now (interest only) although if we stayed with them until out term is up they would only have earned in the region of £2000 in mortgage payments. My question is, could I not offer to pay how much they would have charged us until January ie £2000, or are we just going to have to swallow it and put down to experience?
Thanks In Advance,
Just wondered if anyone had any advise please.
We are in a 2 yr fixed with the Woolwich which ends 13/01/08. We have just sold our house and hoping to move ASAP. We cannot wait til January when the 2 yr fixed runs out do to personal reasons. The Woolwich will not lend us the amount we require for out new house (short in the region of £70,000) Although many other lenders will which we can afford comfortably. The Woolwich wish to charge us £3,700 as an early repayment charge, although we only pay £400 per month for out mortgage now (interest only) although if we stayed with them until out term is up they would only have earned in the region of £2000 in mortgage payments. My question is, could I not offer to pay how much they would have charged us until January ie £2000, or are we just going to have to swallow it and put down to experience?
Thanks In Advance,
Targets for 2014 :
OP mortgage £18000
Pay £4260 into ISA
OP mortgage £18000
Pay £4260 into ISA
0
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The charge is valid and nearly always enforced.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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