Also meant to ask could you argue the Early Redemption penalty cause if you are voluntary handing back the house so to speak you are not actually redeeming the mortgage.
If your mortgage is still in the redemption period then the lender will want it. Even if you hand the keys back. If you are 1 day out of the redemption period then they will not charge it.
Edited by - harbourmaster on 12 September 2008 10:27:45
Yes I do realise that but I am going BR in Oct my ex wants to wait until he knows exact amounts from shortfall of mortgage which could be next summer or later. My question is if they chase after the ERF date is up, would he be liable for this extra £8.5k fee. Thanks again, think I confused everyone x
Repossesion and Early Redemption Fees..
Posted - 11 September 2008 : 18:49:01
