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Overpayments when on a lender's SVR
chockydavid1983
Posts: 717 Forumite
Hi
I currently have a fixed term mortgage with Platform where the initial term ends at the end of September next year. Early repayment charges apply to overpayments during the fixed term.
Maybe a stupid question but would I incur any fees if I was to clear the mortgage once I revert to the SVR (I'm assuming that's what happens by default, I've only ever remortgaged to a new lender in the past).
Thanks,
Chris.
I currently have a fixed term mortgage with Platform where the initial term ends at the end of September next year. Early repayment charges apply to overpayments during the fixed term.
Maybe a stupid question but would I incur any fees if I was to clear the mortgage once I revert to the SVR (I'm assuming that's what happens by default, I've only ever remortgaged to a new lender in the past).
Thanks,
Chris.
0
Comments
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No. You may attract a redemption fee though, you should check this. It usually isn't much, however.1
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If you wait till the end of the fix you can overpay as much as you like.
You maywell be able to overpay 10% during your fix.
You will have a small Exit fee1
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