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Barclay's Springboard Mortgage Query
The_Fitz
Posts: 5 Forumite
Hi folks,
I'm wondering if someone can help or point me in the right direction. I have turned my house upside down looking for the documents that were sent 2 years ago when we got this mortgage but no luck.
In September 2016 we applied and got a springboard mortgage with Barclays (100% mortgage, my folks put 10% into a barclays account as a guarantee). This lasts for 3 years then they get their money back (next September).
Things have potentially changed and we might want to sell up and move back home to Ireland, but for the life of me I cannot find any details online that says whether we would have to pay anything to repay all the money before the 3 years is up (or if it is even allowed).
Anyone had any experience or give me any pointers to look?
Cheers
I'm wondering if someone can help or point me in the right direction. I have turned my house upside down looking for the documents that were sent 2 years ago when we got this mortgage but no luck.
In September 2016 we applied and got a springboard mortgage with Barclays (100% mortgage, my folks put 10% into a barclays account as a guarantee). This lasts for 3 years then they get their money back (next September).
Things have potentially changed and we might want to sell up and move back home to Ireland, but for the life of me I cannot find any details online that says whether we would have to pay anything to repay all the money before the 3 years is up (or if it is even allowed).
Anyone had any experience or give me any pointers to look?
Cheers
0
Comments
-
Can't you just call Barclays and ask them directly?
Having early repayment fees is fairly common, it's usually a percentage of the total loan (and higher the earlier you repay it).0 -
I imagine you are looking at a 3% charge.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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