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Mortgage Redemption Penalty


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Hi all

 

Just after a little advice

 

I am in the process of selling my house as I going to take a 6 months to 1 year off work sabbactical to travel.

 

I have a redemption penalty to settle the mortgage early of about £6k + reimbursement of survey fee of about about £800 ish.

 

The mortgage was fixed at 4.29% until 2012 with N.Rock, my mortgage is one that they are not selling off to the asset management company as it is "good" debt

 

Do you think i could ask for the fee to be reduced as £7k is nice chuck of money just to throw away effectively ?

 

Has anyone experienced anything similar ?

 

Many thanks

 

Tg x

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  • 4 months later...

Hi, I have same problem - also with Northern Rock.

 

Is there any angle on this as beeing an unfair charge? I also want to borrow more but Northern Rock wont lend any more than what I currently have - this is linked to their recent events - so no new lending.

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