paying off some balance before remortgaging

longwalks1

Im coming to the end of my 5 yr fixed deal and have some savings i'd like ot pay off the balance before taking out a new mortgage, whats the best way to go about it? I spoke with my current lender Bristol and West and they say theres a 5% fee for making an overpayment (its less than 10% of the total balance), so to pay off £8,000 its going to cost me £400 :mad:
Is there a way of paying it off after I leave B&West but before I take out with a new lender, or is it best to just change mortgages and make the overpayment straight away with them (ensuring they dont charge - one of the questions i'l be asking this time round)

Thanks in advance

silvercar

Is there a way of paying it off after I leave B&West but before I take out with a new lender,

The new lender will appoint a solicitor through their remortgaging service to do the paperwork. You apply for the new mortgage for a lower amount and the solicitor contacts you and says there is a difference of £XX between your new mortgage and the old one please supply the difference.