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Santander Follow On Rate?
Stonesmike
Posts: 110 Forumite
My fixed term with Santander finishes on the 2nd September, would I be right in saying that once the mortgage goes onto their follow on rate, that I can pay off the mortgage in one final payment and apart from transaction fees, there will be no early repayment charges?
Is there anything I should be aware of, if I am right in what I am saying.
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Forgot to add, there is a good chance I am going to be made redundant and need to get my calculations and facts right. 🙈☹️0
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Oh well, fingers crossed.0
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Once your mortgage goes to SVR, I am sure you are allowed to clear it off without any penalties, but best check with them.
If you don't pay it all off, then I imagine your interest will shoot up and added to your mortgage, so you would need to contact them for a final figure settlement (which you would probably need to do anyway) as interest will probably added on each day.
Nice position to be in, sorry you may be made redundant.Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_Now a Part Timer from 27.10.190 -
Thanks, reckon I will be okay, but thanks for coming back to me. 👍👍1
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Phoned Santander this morning, sent me a link by email and now mortgage free.So easy, happy days. 😂😃💰🤪0
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Well done and congratulations
What's your plans, now?Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_Now a Part Timer from 27.10.190 -
If redundancy pay is decent, the wife and I, will look at retiring and down size property and spend our time in the UK and our place in Spain. 👍🙏1
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Wonderful, best time to retire but not the best place to go to atm.Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_Now a Part Timer from 27.10.190
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A_Frayed_Knot said:Wonderful, best time to retire but not the best place to go to atm.
What makes you think it isn't the best place to go at the moment?
I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)0
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