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    • cmarshy201
    • By cmarshy201 17th May 18, 11:15 AM
    • 9Posts
    • 0Thanks
    Mortgage balance
    • #1
    • 17th May 18, 11:15 AM
    Mortgage balance 17th May 18 at 11:15 AM
    Hi folks, is it possible to pay off/clear my mortgage balance once my fixed term period comes to an end next February? I will have the funds to do it and would then not be paying out every month on the SVR mortgage I would change too,instead the money could go into savings. Thanks in advance
Page 1
    • TrickyDicky101
    • By TrickyDicky101 17th May 18, 11:33 AM
    • 3,011 Posts
    • 1,944 Thanks
    • #2
    • 17th May 18, 11:33 AM
    • #2
    • 17th May 18, 11:33 AM
    Usually there are no ERCs to pay once on a lender's SVR so you should be able to pay off your remaining mortgage balance without penalty once your fixed term has come to an end.

    You should be able to confirm this either to your original mortgage agreement or by speaking to your lender.

    Well done for being in a position to clear your mortgage!
    • cmarshy201
    • By cmarshy201 17th May 18, 11:36 AM
    • 9 Posts
    • 0 Thanks
    • #3
    • 17th May 18, 11:36 AM
    • #3
    • 17th May 18, 11:36 AM
    Thanks for the reply, I will check out the fine print in my original paperwork
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