Can ending a mortgage early count against you in the future?

Mortgage_Moog

I bought my property in summer 2016 but I'm only planning on staying here until summer 2017. I'll probably rent somewhere for a few months and look to buy again in early 2018, mainly due to a change in my income which means I'm earning far more now than when I applied for the mortgage so i can afford to move to another area years sooner than originally planned.

I know about the costs involved and those are fine but I'm wondering whether ending a mortgage early could count against me when I go to take out another in the future? Might it look bad in any way that I only spend a year there or doesn't it make any difference?

kingstreet

Nope. No difference.

Mortgage_Moog

Thanks, I didn't think it would but thought I'd check. I don't suppose they mind what you do so long as you pay the fees.

Thrugelmir

Why should it count against you? You've done nothing wrong.

Mortgage_Moog

Thrugelmir wrote: »

Why should it count against you? You've done nothing wrong.

I was thinking that if you'd had a mortgage for 6 to 12 months and then sold up they might be reluctant to give you another one thinking that you aren't committed to it. I don't suppose they mind so long as you pay your charge for ending it early.

Thrugelmir

Mortgage_Moog wrote: »

I was thinking that if you'd had a mortgage for 6 to 12 months and then sold up they might be reluctant to give you another one thinking that you aren't committed to it. I don't suppose they mind so long as you pay your charge for ending it early.

Could be any number of reasons. As it's a business transaction there's no need to justify anything.