Quote:
Originally Posted by Marsh.
I know what's left on my mum's mortgage. It's not a secret.  |
If a borrower wants to repay their mortgage before the end of its term – they will have to repay the capital amount outstanding plus any interest accrued up until the point at which they repay, plus any associated fees and charges associated with redemption and early repayment related to their particular mortgage contract.
Lenders will clearly set out terms up front in the KFI regarding early payment charges and will give out a redemption statement (the amount outstanding on a particular date) on request by the borrower.
http://www.thisismoney.co.uk/money/e...stay-same.html
its not that simple with many mortgages