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equity remortgage(a few questions)
DAVE1003
Posts: 46 Forumite
hi,
my mums a pretty independent old bird. (70 this year)
she remortgaged her house thru one the halifax i think only a year or 2 ago & got, i think, £58000 from them. her house is worth about £200,000. she now has decided to downsize (which we tried to advise her to do when she took this mortgage out).
my question is: what willshe need to pay them back . she thinks as she has been paying interest on what she has borrowed she needs only topay them the £58000.
i don't want to pry into her business without knowing anything but is this correct.
if it is thats ok but i feel there may be some penalty charges & maybe some hefty ones at that.
thanks:beer:
my mums a pretty independent old bird. (70 this year)
she remortgaged her house thru one the halifax i think only a year or 2 ago & got, i think, £58000 from them. her house is worth about £200,000. she now has decided to downsize (which we tried to advise her to do when she took this mortgage out).
my question is: what willshe need to pay them back . she thinks as she has been paying interest on what she has borrowed she needs only topay them the £58000.
i don't want to pry into her business without knowing anything but is this correct.
if it is thats ok but i feel there may be some penalty charges & maybe some hefty ones at that.
thanks:beer:
0
Comments
-
Impossible to say without knowing the terms and conditions of the mortgage she took.
The terms and conditions relating to the early repayment of the mortgage will be on the original mortgage offer. The one's who will know are the Halifax themselves.0 -
Yeah I Thought That Might Be The Case But I Hoped There Might Be A Standard Procedure Of Charges That They Might All Charge.0
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