associated penalties re:leaving fixed rate early

[speculative]

Am only about a year into a 5 year fixed rate agreement with mortgage provider and am looking at moving.
Existing mortgage is in the region of 177k, value of house in region of 500k
Was wondering if anyone has had similar experiences or information regarding the type and amount of penalties the nice people at the mortgage provider will impose.

In the event of a move Id need to consider
a) additional mortgage required when trading up
b) the penalties from my mortgage provider for leaving the 5 year fixed agreement.

Current mortgage provider is PTSB.
Any information / advice on this would be great.

 

[sob]

you may not have to leave the fixed rate as if you remortgage to purchase new house can add to existing mortgage and keep existing fixed, maybe a good rate considering the increases in recent times, but if you break it then you will pay penalty to close out of it.

 

[speculative]

Thanks for the information. I bit the bullet and called to ask about any redemption fees associated with the account. In the event of extending the mortgage with the same mortage provider it seems that there are no fees. I say 'seems' since they could only go with 'As far as I can tell ...' but at least I got an answer.

 

[ClubMan]

That answer doesn't sound authoritative. You need to get stuff like that in writing to be sure.