Fixed term ending

cmarshy201

Hi, I have a 10 year fixed term mortgage ending in may 2019,I will then have a balance of roughly 24k. My question is,could I opt to clear/pay off the balance after my fixed term ends if I'm in a position to do so?
Thanks,Chris

sammyjammy

Of course you can.

dimbo61

Are you allowed to overpay the mortgage now ?
Even in a fixed term many mortgage lenders allow 10% overpayments each year.
Check your mortgage terms and conditions or give them a call

cmarshy201

I do over pay at the moment but wasn't sure if I could clear the balance after fixed term ends, which I plan to do all being well :-)

Trickzyy

cmarshy201 wrote: »

I do over pay at the moment but wasn't sure if I could clear the balance after fixed term ends, which I plan to do all being well :-)

Hi,

After the fixed rate ends, you will revert to the SVR. There is usually no limit on overpaying when you get to this stage, the only other cost you may incur is the admin fee for exiting the mortgage.