SPML mortgage and want to sell

[ftolad]

Hi all, I bought my house back in 2006 after gaining a mortgage from SPML. The mortgage is fully up-to-date and slightly in credit. As this was my first property I learned quite a lot about the buying process, but have absolutely none when it comes to selling.

 

Do I need to tell Acenden that I intend to put the house on the market? Also has anyone had any experience selling a house with a mortgage managed by them? I need to have a read through of the T&C's so I can check to see what charges they might try and slap on.

 

The other point is that I have always paid by BACS transfer direct from my bank account to theirs. I was originally told when the new fees we're coming into effect that BACS transfers would not attract the £5 charge, yet I was fold earlier this month that it will. Is it me or is it a bit cheeky to apply this charge when the account is in credit and is regularly paid?

 

Thanks.

[jasperpad]

Hi ftolad

 

you do need to tell SPML that you are going to put the house on the market, but watch them as they will put a lot of charges on the account for paying it up early. I would check what these charges may be so that you could challenge them.

 

I am sure other Caggers will agree with me.

 

best of luck with the sale.

 

jasperpad

[ftolad]

Hi ftolad

 

you do need to tell SPML that you are going to put the house on the market, but watch them as they will put a lot of charges on the account for paying it up early. I would check what these charges may be so that you could challenge them.

 

I am sure other Caggers will agree with me.

 

best of luck with the sale.

 

jasperpad

 

I've just rooted out the offer and terms and conditions. I'm outside the expensive period for repayment so according to the offer there's just the Eary Repayment and Deeds Release fee, which is good. I just hope that it's a reasonably quick sale, but it's certainly a shame that there are thrrre other properties in my row for sale - two of them renovations.

[ftolad]

I've just spoken to Acenden, they seem to be pretty busy this morning. They've confirmed two things for me. The charges are listed under section 10 of my mortgage offer, so for me it's £190 for the Early Repayment Fee and the Deeds Release Fee. I also need to pay £35 for the up-to-date redemption figure.

 

They also confirmed that I do not need to inform them if I wanted to put the house on the market.