B buyaka Registered User Messages 23 3 Jun 2007 #1 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 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
D dewdrop Registered User Messages 1,298 3 Jun 2007 #2 my understanding is that a penalty only arises if you are on a fixed rate so you should be ok.
O oysterman Registered User Messages 580 3 Jun 2007 #3 buyaka said: is their a penalty we'll have to pay. Its a variable mortgage with Ulster Bank Click to expand... No. You can't be charged a redemption penalty on a variable rate mortgage.
buyaka said: is their a penalty we'll have to pay. Its a variable mortgage with Ulster Bank Click to expand... No. You can't be charged a redemption penalty on a variable rate mortgage.