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  • FIRST POST
    • richierich007
    • By richierich007 11th Mar 18, 10:10 AM
    • 32Posts
    • 6Thanks
    richierich007
    needing advice
    • #1
    • 11th Mar 18, 10:10 AM
    needing advice 11th Mar 18 at 10:10 AM
    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
    • davidmcn
    • By davidmcn 11th Mar 18, 10:14 AM
    • 7,633 Posts
    • 7,762 Thanks
    davidmcn
    • #2
    • 11th Mar 18, 10:14 AM
    • #2
    • 11th Mar 18, 10:14 AM
    will they waive my early exit fee
    Originally posted by richierich007
    No, they won't.
    • ACG
    • By ACG 11th Mar 18, 11:52 AM
    • 16,822 Posts
    • 8,776 Thanks
    ACG
    • #3
    • 11th Mar 18, 11:52 AM
    • #3
    • 11th Mar 18, 11:52 AM
    As above, they will not waive the early repayment charges.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • locky82
    • By locky82 11th Mar 18, 11:53 AM
    • 11 Posts
    • 1 Thanks
    locky82
    • #4
    • 11th Mar 18, 11:53 AM
    • #4
    • 11th Mar 18, 11:53 AM
    Who is the mortgage with? I was able to switch products 3 months before the end of my deal. If your mortgage provider has this facility you could switch to a tracker with no early repayment charge in April and then pay it off when your money comes in. Otherwise sit tight for 3 months
    • richierich007
    • By richierich007 11th Mar 18, 1:26 PM
    • 32 Posts
    • 6 Thanks
    richierich007
    • #5
    • 11th Mar 18, 1:26 PM
    • #5
    • 11th Mar 18, 1:26 PM
    thanks for the replies all

    i thought that would be the ans i would get that i would have to pay the fees

    the mortgage is with ex northern rock (take over) now with virgin
    the fee is aprox 300 , looks like i will pay my monthly payment until july then pay it off then, will call the bank up in april and see what they say and will keep you guys updated then so expect this thread jumping back up then
    • richierich007
    • By richierich007 11th Mar 18, 1:35 PM
    • 32 Posts
    • 6 Thanks
    richierich007
    • #6
    • 11th Mar 18, 1:35 PM
    • #6
    • 11th Mar 18, 1:35 PM
    ps the last time i looked at my credit file was before virgin tookover northern rock and NR did not have this on my file, question i remortgaged 2 years ago question is will virgin have my mortgage on the credit file
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