We repaid our mortgage 30 days early (from a 2 year term) because our buyer wanted to complete on a particular date or pull out of the purchase.
We were left with an £18,000 redemption fee on a mortgage to pay.
We did so because we were in a chain with the house we were buying and there were not any other options - other than to lose the house which we were not willing to do.
The redemption terms were £20,000 in the first year or £18,000 in the second year. Given we only left the lender 30 days out of their loan, could I argue that £18,000 was not in fact a true representation of their losses?
I am struggling to find any information on cases like this in RL or online - can anyone offer their help or experience?
Thank you
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17 replies
Elemontary · 29/12/2016 11:25
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