Mortgage Early Repayment Fees

[TheGoddessBlossom]

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?

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

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...

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.