Mortgage redemption?

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Mortgage redemption?

Will I have to pay redemption charges on all my mortgage or only the amount I don't take with me when I move?

2007-01-11 22:43:26 · 3 answers · asked by Nathaniel 1 in Home & Garden ➔ Other - Home & Garden

3 answers

You will need to ask your lender, its different for different companies

2007-01-11 22:46:11 · answer #1 · answered by OriginalBubble 6 · 0⤊ 0⤋

redemption charges exist if you have a discount or fixed rate mortgage. redemptions apply from anything from 1 to 5 years.

Normal mortages will have no redemption charge other than an admin charge for the deeds transferred.

2007-01-12 07:42:35 · answer #2 · answered by Michael H 7 · 0⤊ 0⤋

Different rules for each mortgage so you'll have to ask your lender. I would image it would be only the outstanding amount but you never know.

2007-01-12 06:48:03 · answer #3 · answered by mark 7 · 0⤊ 0⤋