Early payment fee's

sara1880

Hiya,

I took out a 5 year fixed term mortgage which is due to end in October but there was an early settlement fee attached unless i used Nationwide for my next mortgage. I am planning on moving in with my partner and originally we were just going to sell my house and buy another one so there was no problem. My house is on the market now, but we have decided against buying again right away.
So what i was wondering is if there is anyway at all of avoiding the early repayment fee's which i have been told will total about £2600? It's just really annoying knowing i'll have to pay it out just for the sake of a month or two?
I know the obvious thing to do is to hold off on the sale of the house but thats not really an option.


Any advice would be great
Thanks

_Andy_

Sadly not - they are part of the T&Cs you agreed to.

happybroker

I am confident the Nationwide won't waive the fee but you may aswell ask as you will be no worse by them saying no.

It's a real shame you can't hang on, even offering a reduction in price of half the penalty to the buyer would make you better off.

Hope it works out and good luck