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Mortgage redemption

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druiaghtagh | 14:53 Wed 06th Jun 2007 | Business & Finance
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What is the likely fee i would pay to redeem �23000 mortgage that is now in its 17 th year please
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If you phone your mortgage company up they will tell you.
I wouldn't have thought you would have had a redemption penalty.

The ledner I worked for put on a redemption penalty if you redeemed the mortgage before 3 years.

Thats only the 1 lender though.
I assume you mean how much remaining debt you have?

Depends on lender, rate, repayment or interest only, arrears, overpayments, term.

Only sure-fire way is to call the lender.

As Leight0n syas above, you are unlikely to have to pay a penalty but there is usually some admin. charge to add to the remaining debt.

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