Breakage Fee Increased

[coyners2098]

Hi,
Just wondering if its normal for a breakage fee to increase. Last November I was given a fee of 1600. This jumped to 2300 when I finalised the switch this week.

Is that unusual?

Thanks

 

[skrooge]

Hi,
Just wondering if its normal for a breakage fee to increase. Last November I was given a fee of 1600. This jumped to 2300 when I finalised the switch this week.

Is that unusual?

Thanks

The euro amount you pay is a function of the balance and the how the interbank rates have moved.

Your mortgage balance won't have changed muc since November but over that time market rates will have moved.

There's a key post on this

Key Post - Understanding Fixed Rates breakage costs

Moderator's note: for anybody who is thinking of switching their mortgage (or re-fixing with their current lender), consider posting your mortgage details in the switcher thread (in the format shown in the first post). Someone will calculate an estimate of the break fee (if any) and of the...

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