Mortgage redemption

[druiaghtagh]

What is the likely fee i would pay to redeem �23000 mortgage that is now in its 17 th year please

[Ethel]

If you phone your mortgage company up they will tell you.

[Leight0n]

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.

[EverClean]

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.