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Mortgage Redemption fees
Chris1762
Posts: 1 Newbie
Is my mortgage lender entitled to charge the £14,000 for changing to another fixed rate deal after the old one had expired which is with the same lender?
0
Comments
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Yes.
Nobody is forcing you to pay it. Go onto the standard variable rate if you don't want to pay.0 -
Is my mortgage lender entitled to charge the £14,000 for changing to another fixed rate deal after the old one had expired which is with the same lender?
Yes they are. You chose to buy a deal with overhangs. That is where the tie in goes on longer than the special offer. You signed a contract agreeing this fee if you repay it early so its not as if they are breaking any rules and of course you have benefited from the special offer.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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