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    • foxtrot_mike
    • By foxtrot_mike 15th Sep 18, 1:44 PM
    • 99Posts
    • 31Thanks
    foxtrot_mike
    Early Repayment Fees In Variable Rate Mortgage
    • #1
    • 15th Sep 18, 1:44 PM
    Early Repayment Fees In Variable Rate Mortgage 15th Sep 18 at 1:44 PM
    I am very shortly due to begin my first step on the way to becoming Mortgage Free.

    I have looked into Making an Additional Payments under the 10% Penalty Free which is fine

    But it might be that i could wait until next October, when my Fixed Rate Term Ends and I would like to have an idea what the banks usually offer in terms of Early Payment Fees when not on a Fixed Rate Plan, is is usually a similar fee anyway, less or more?

    Another option would be for me at the time to remortgage to borrow less, but again i'm not sure if i can do this without paying an Early Repayment fee.

    If the Early Repayment Fees are indeed based on a percentage, making overpayments now in readiness for Oct 2019 would that mean it would reduce the fee i would pay if i choose to do that and see it as the best option from an informed decision.

    I am with the Halifax
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