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  • FIRST POST
    • The_Fitz
    • By The_Fitz 8th Jul 18, 5:41 PM
    • 2Posts
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    The_Fitz
    Barclay's Springboard Mortgage Query
    • #1
    • 8th Jul 18, 5:41 PM
    Barclay's Springboard Mortgage Query 8th Jul 18 at 5:41 PM
    Hi folks,

    I'm wondering if someone can help or point me in the right direction. I have turned my house upside down looking for the documents that were sent 2 years ago when we got this mortgage but no luck.

    In September 2016 we applied and got a springboard mortgage with Barclays (100% mortgage, my folks put 10% into a barclays account as a guarantee). This lasts for 3 years then they get their money back (next September).

    Things have potentially changed and we might want to sell up and move back home to Ireland, but for the life of me I cannot find any details online that says whether we would have to pay anything to repay all the money before the 3 years is up (or if it is even allowed).

    Anyone had any experience or give me any pointers to look?

    Cheers
Page 1
    • julicorn
    • By julicorn 8th Jul 18, 6:19 PM
    • 286 Posts
    • 1,156 Thanks
    julicorn
    • #2
    • 8th Jul 18, 6:19 PM
    • #2
    • 8th Jul 18, 6:19 PM
    Can't you just call Barclays and ask them directly?
    Having early repayment fees is fairly common, it's usually a percentage of the total loan (and higher the earlier you repay it).
    Original mortgage: December 2017, 203,495
    MFW start: April 2018, 201,800
    Current: 191,400
    • amnblog
    • By amnblog 8th Jul 18, 7:01 PM
    • 10,738 Posts
    • 4,260 Thanks
    amnblog
    • #3
    • 8th Jul 18, 7:01 PM
    • #3
    • 8th Jul 18, 7:01 PM
    I imagine you are looking at a 3% charge.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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