Are there mortgages without early redemption penalties?
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gill
Apprentice
Joined: 06 Oct 2007
Posts: 4
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 Posted: 01/14/08 - 06:20 Post subject: |
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| Hello, folks. I would like to take a mortgage. I am new at this, but I have heard something about early redemption penalties. Could you fill me in with details? What would you have to say to me? I will appreciate your effort in answering my post. Thanks in advance, guys. |
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radcliffe
Apprentice
Joined: 04 Jan 2005
Posts: 8
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| Posted: 02/13/08 - 00:05 Post subject: |
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| Hello, there. I would like to explain the term in your question. Early redemption penalty represents charges that are built in loan agreement. Those are charges that will be addressed to the customer if he decides to repay his loan earlier. Interests are calculated, among other things, how long you will pay off the credit. If you decide to do that, you will save a lot of money. Many mortgages will be without early redemption penalties. I hope you will manage your affairs. If you have more questions, don’t hesitate to ask them. Good luck! |
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