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interest only to repayment
antoniomontana
Posts: 209 Forumite
just wondering whether its normal to be able to switch interest only mortgages to capital repayment ones (with or without a charge)
im looking to get one with Birmingham Midshire but not sure on this matter.
im looking to get one with Birmingham Midshire but not sure on this matter.
0
Comments
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Yes, it should be fairly easy.
There is usually a small administration fee which is often about £50.
I guess this is just to stop people doing it too frequently without thinking it through.0 -
Don't see why not, two years ago we switched our Interest only to a part Interest only, part repayment. No problems. Very small fee but inlcuded in the repayments. This was with Nationwide.0
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I switched 2 years ago from interest only to a repayment and have just used the endowment portion as a a means of saving.0
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