Selling during fixed term contract

Smith15

Hi everyone!

I am wanting to sell my flat but am currently in a fixed term mortgage contract till 31st December. I know even if I put my place up for sale by the time it completes it might even complete after this date (I know how long sales and purchases can take!) however can I tell the estate agent that I need a buyer who is willing to complete on 31st dec 2015 or after? Or has anyone had experience asking their mortgage provider if they can sell perhaps a week or few weeks before it's up?

By the way I'm selling as moving into my partners family home to save money to buy a bigger property.

Thanks

Sasha

Sedge123

Definitely. We considered a property where the owners didn't want to move for 6 months. In the end we are moving in with relatives for 5 weeks as our buyers wanted to complete earlier than our vendors.
Just be honest from the start.

G_M

You can tell the agent what you like. If that is a condion of sale you wish to impose, fine, tell them.

However you might do better to start marleting the property closer to the date when you wish sell. Properties that sit on the market unsold for some time can be treated suspiciously by some buyers.

How much is the penalty for early redemption of the mortgage?

Smith15

Ah thanks for your reply.

I spoke to Halifax today and the charge will be £2386 if redeem early so going to have to look at some figures tonight but will probably just have to sit and wait to sell nearer the time. My mortgage payments are £630 a month and won't be paying anything out once I sell as living rent free at my partners parents