paying off mortgage early

[dfspilot]

i have a 4 bed house value 630k, with 60k outstanding and 13 years outstanding with first active. original mortgage was 75k 5 years ago this october. i am thinking of moving to a brand new 4 bed which would cost me 575k ( no stamp duty ) plus fees. i could pay the balance after the sale of my present house ( fees 5k and outstanding mortgage 5k out of my own pocket ) but my question is ( sorry my mortgage is a variable rate ) would i have to pay first active a fee to pay the mortgage off early and how much would this be. i have been with first active since i bought my first house in 1992. this would then leave me mortgage free if i was to go ahead with this move. any replies appreciated.

 

[tiger]

Variable rate should mean no penalties, but check with the bank. Not part of the question, but the housing market is in transition at the moment so may be hard to tell what current values are & how long it will take to sell.