Can I pay early repayment charge after exchange?

[Binglebong29]

Does anyone know at what point the early repayment charge has to be paid?

At the moment the plan is to take it out of the equity.

Who then makes the payment to the bank? Is it the solicitor along with everything else, or do they release what equity we have kept out of the deposit back to us, then we sort it ourselves after?

I'm just thinking that by the time we actually exchange we would have probably saved enough to just pay it ourselves rather than take it out of the equity but not sure if we need to show its there and ready!

That extra few grand towards the house would be so helpful!

Hope that makes sense

Sorry think I meant can I pay early repayment after completion!!!

for me it was taken automatically as soon as completion monies were recieved and therefore paid back to the bank.

It's paid on completion by adding it to the amount you need to repay your mortgage. Once you've exchanged, your conveyancer will request a redemption statement from your lender.

Thanks everyone