Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • 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
    • 3,130 Posts
    • 2,067 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
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,792Posts Today

7,951Users online

Martin's Twitter
  • Watch and all will be explained. It's about early prep not early celebration. To take the stress out of pre-chris?

  • Just got on the train to Liverpool, as we're there for tonight's @itvMLshow live Christmas special (8pm ITV). Had?

  • RT @CareQualityComm: While Martin's methodology is different to ours, and the rating terminology, it's interesting that the poll findings t?

  • Follow Martin