Barclays Fixed Exit Fee - worth leaving mortgage open??

KensingtonIPA

I was looking to pay off my Barclays (originally Woolwich) mortgage. However, they have pointed out that there is an exit fee of £275 if I complete the mortgage more than six months before the end of its term (another 14 years to go).

I can have no complaints about this fee - it matches what was in the original mortgage paperwork, and in fact the paperwork does not mention it being waived if the mortgage goes to term. 

However, it does put me in a strange position - what counts as "completing the mortgage"? Should I just pay off everything apart from a couple of hundred quid and then pay back a pound a month? Because the exit fee is not proportional to the money still owed it feels a little farcical really. Has anyone else been put in this position by this Barclays policy? Is it worth me doing this or just paying off the mortgage in full now, as the policy of waiving it is not officially written down anywhere it seems - including for new mortgages on the Barclays website?

dimbo61

Most mortgages have an exit fee and £275 is not bad.
If your in the fortunate position to clear the mortgage then just do it