Early Repayment Charge

deano3

Hi,

Are they paid via solicitor on completion of house move/new mortgage or within 30 days or whatever terms are set?

Also does the same apply when credit cards are to be paid off on completion, do i have to evidence funds pre-completion.

Lender is Natwest if that makes a difference.

Thanks in advance

kingstreet

ERP included in redemption figure given to solicitor by lender. To repay mortgage and give unencumbered title, the lot has to be repaid at completion.

Ask solicitor what he requires to evidence repayment of credit commitments to lender at completion.