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  • FIRST POST
    • richierich007
    • By richierich007 10th Mar 18, 6:51 PM
    • 44Posts
    • 6Thanks
    richierich007
    do i pay the fee
    • #1
    • 10th Mar 18, 6:51 PM
    do i pay the fee 10th Mar 18 at 6:51 PM
    hi all been a while since ive been here so here goes

    i`m coming into some cash soon, and i wish to pay the mortgage off, so start off ive had the mortgage 28 years, originally 25, then because of none payments i had to take a remortgage out after the original 25 was up, anyway moving forward my my fixed rate is coming to a end in july, and the windfall is in mid april, i have used up my overpayment allowance already (10%), now i know the bank will ask for the 3.5% early exit charge, yet if i pay the monthly payments until july they will gain no extra cash, it will work out loads cheaper for me to pay the fixed rate upfront to july and allow me out early, as this mortgage is now over 28 years and made a LOT of cash out of me in the high interest days, will they wave my early exit fee or will they be trying to keep there claws on my home

    any help would be great, thank you
Page 1
    • beanielou
    • By beanielou 13th Mar 18, 10:13 PM
    • 54,866 Posts
    • 218,949 Thanks
    beanielou
    • #2
    • 13th Mar 18, 10:13 PM
    • #2
    • 13th Mar 18, 10:13 PM
    Doubt they will waive the early repayment fee.
    I would continue to pay as usual til July & then pay off balance when your fix ends.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • Retter
    • By Retter 14th Mar 18, 12:12 AM
    • 10 Posts
    • 10 Thanks
    Retter
    • #3
    • 14th Mar 18, 12:12 AM
    • #3
    • 14th Mar 18, 12:12 AM
    I very much doubt any bank will waive a fee they are due. It might be worth a call though, my fix runs until 03/27 but my terms say that the ERC expires on 31/12/26, so a couple of months before the end of the mortgage. Every penny you can save yourself/keep from the bank is a bonus.
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