Redemption fees
 

Can anyone out there help......myself and other half are leaving for Melbourne in the next few weeks. OH has been transferred with work and it has all come around very quick (about 6weeks).The house went on the market and has sold in the last couple of days.The mortgage lender (halifax) are saying we have to stand to £4,000 redemption fees for early repayment. Has anyone else come across this?(we fully understood when we took on the mortgage) and is there a way around this as OH is being transferred at short notice?

Any help would be greatly aappreciated|
_Rachael:curse:

Re: Redemption fees
 

yes i got hammered,,
hey i am sorry to be the bearer of bad news,but they dont tell you that you also get hit with an admin charge of about £350,its a bit like an arrangement fee in reverse...


you will have to check with your bank ,but with mine i paid as much as i could(all my savings)just before we settled.this in turn brought the redemtion figure down..

hope this helps,,

ast

Re: Redemption fees
 

Thanks Ast
We are living in hope that if we prove OH has been transferred at short notice we may get away with it or come to some arrangement.
Defo not holding our breath. Halifax will probably hammer us too.

Rachael

Re: Redemption fees
 

Not sure you will get away without paying the fees, we have some due as well. Can't you ask OH's employer to pay them as part of the relocation which they have asked you to do?, or is that too cheeky?

Remember; Those who don't ask don't want!

Re: Redemption fees
 

Yes defo seems the best thing to do even if it is cheeky, it would be a drop in the ocean for his company (Ericsson).
Going to give it a try at least. Its a nightmare you budget for moving then things like this crop up.
Thanks for the post
rachael :thumbsup: