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Is there a penalty if I pay off the mortgage at the end of the fixed term?
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xuchang1032
Posts: 3 Newbie
Hello Everybody
I hope you can help me on this, I am holding a fixed term mortgage. The rate is fixed for 5 years ending 2025. The mortgage contract ends 2035.
The contract does allow me to early repay 10% every year.
I want to ask at 2025 when fixed period ends, Can I repay all the rest? will there be penalty?
Many thanks
Chang
I hope you can help me on this, I am holding a fixed term mortgage. The rate is fixed for 5 years ending 2025. The mortgage contract ends 2035.
The contract does allow me to early repay 10% every year.
I want to ask at 2025 when fixed period ends, Can I repay all the rest? will there be penalty?
Many thanks
Chang
0
Comments
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If your fix ends on 31 March 2025, you can pay off the whole mortgage without any penalty from 01 April 2025.
1 -
Thank you very much simon_or, Your answer solved all the doubt in my mind0
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There will be some fees but likely to be £150 or so, your mortgage offer will state these.0
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