Early Repayment

It is very important to understand what, if any, Early Repayment Charges, might apply should you wish to change your mortgage in the early years.

Early Repayment Charges can range from none at all, to 1-6 months interest, to even larger sums.

Broadly speaking, the better the deal, the longer the period covered and the greater the Early Repayment Charges. Early Repayment Charges per se are not a problem, so long as they are understood at outset. If the lender and the deal are right then it may be worth taking it even if the potential Early Repayment Charges are high.

The key aspect is to avoid those deals where you may wish to change in the future and thus incur unacceptable Early Repayment Charges.

Assessing any Early Repayment Charges that you may be subject to is one of the areas in which we assist.

We can ensure that you are fully aware of any potential Early Repayment Charges before you take out a loan.

Last updated on April 11, 2008

Bespoke Financial Solutions is a trading name of Ashmore Financial Solutions which is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register). FSA Registration No: 302661

Your home may be repossessed if you do not keep up repayments on your mortgage.

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