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Mortgage early repayment fees

cjrmail2k · 2019-09-03 10:42:33

Hi All, I am currently selling my property and my fixed rate mortgage deal ends on November 30th. If I end the mortgage before this date (even 1 day before this date) I end up being liable for the early repayment fee of 1% of the outstanding amount. This is roughly 6 times the interest that Natwest would have made in the…

Comments

Thrugelmir Posts: 89,546 Forumite

3 September 2019 at 11:54AM

cjrmail2k wrote: »

I assume this is not limited to Natwest but it seems to me that banks are gouging their customers for more than they should.

The product terms were totally transparent at the outset. Always read the small print before signing them.

Mortgage lending isn't highly profitable. Banks therefore need to protect their margins.

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