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Santander remortgage redemption fee when waiting on new house
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overture
Posts: 8 Forumite
Hi all,
My wife and I have just sold our house. To speed the sale up, we agreed to move to my parents because the seller of the house we're buying needs to wait for their new house to be built. So, we plan to be with my parents for around 3 months.
So, given we needed to borrow more, we remortgaged with Santander. Since we need to pay off the mortgage in full (before getting our house)- we have to pay the redemption fee of around £4000. However, if we get into our new house within 3 months we can claim amount back.
Given we're not due to be in the house until around 3 months, this is a bit too close for comfort. My question is: is there any point trying to get Santander to extend this deadline of 3 months (given the circumstances)?
Any other suggestions welcome. Thanks!
My wife and I have just sold our house. To speed the sale up, we agreed to move to my parents because the seller of the house we're buying needs to wait for their new house to be built. So, we plan to be with my parents for around 3 months.
So, given we needed to borrow more, we remortgaged with Santander. Since we need to pay off the mortgage in full (before getting our house)- we have to pay the redemption fee of around £4000. However, if we get into our new house within 3 months we can claim amount back.
Given we're not due to be in the house until around 3 months, this is a bit too close for comfort. My question is: is there any point trying to get Santander to extend this deadline of 3 months (given the circumstances)?
Any other suggestions welcome. Thanks!
0
Comments
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There is no point.
It's a hard rule which is not broken.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »There is no point.
It's a hard rule which is not broken.
Nightmare. Thanks anyway!0
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