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Mortgage Early Repayment Fees

(4 Posts)
TheGoddessBlossom Wed 06-Jul-11 09:14:21

Hi all,

If we sell our house, and move into my parents before finding and buying a new property, will we be likely to incur early repayments fees from our current lender?

RockChick1984 Wed 06-Jul-11 10:20:52

Are you tied into a deal eg a fixed rate or a tracker? If so it's fairly likely you would, but if you look on the kfi document you were given when you took the mortgage it'll say clearly on that

TheGoddessBlossom Wed 06-Jul-11 10:26:31

no, the fixed rate we had has just expired, so unless we buy another one we will by default go onto a variable rate. Which we were going to do, as the advice we have seen is to hold off buying another fixed rate product for a few months as better rates will be offered then...

CogitoErgoSometimes Wed 06-Jul-11 11:19:03

Check the terms and conditions of your mortgage or call your lender to be sure. Normally, standard variable rate mortgages don't attract penalties for early redemption.

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