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Mortage & Separation
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Hi
I'm thinking of selling my house after buying it less than a year ago and I won't be buying another property.
I know I will have to pay back the money I borrowed but will I have to pay back all the interest for the period of the mortage etc like you would have to do if you paid off another loan early?
Hope that makes sense! Thank you.
I'm thinking of selling my house after buying it less than a year ago and I won't be buying another property.
I know I will have to pay back the money I borrowed but will I have to pay back all the interest for the period of the mortage etc like you would have to do if you paid off another loan early?
Hope that makes sense! Thank you.
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Your interest will be calculated on a daily basis and you will pay only the interest accrued to the date of paying off the mortgage.
It is not like a personal loan.
However, if you had any special incentives or deals such as fixed rate, low rate or cash back, you may have to pay an enhanced exit fee.
Check the terms of your mortgage .
It is not like a personal loan.
However, if you had any special incentives or deals such as fixed rate, low rate or cash back, you may have to pay an enhanced exit fee.
Check the terms of your mortgage .
Only 1 answer
