Penalty for settling mortgage?

B

buyaka

Registered User
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23
My partner and I may be about to go our seperate ways and as such will probably sell our house.

We have 160k left to pay on the mortgage and the house should fetch between 450k and 500k

If when we sell we opt to pay off the balance of our mortgage is their a penalty we'll have to pay.

Its a variable mortgage with Ulster Bank
 
my understanding is that a penalty only arises if you are on a fixed rate so you should be ok.
 
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