Hi. My wife and I recently came into some money. After having talked it through we have decided that paying off our mortgage is the wisest way of spending this money. What a nice thought that is! Never having to make mortgage repayments again! But we understand that there can be extra charges for early mortgage repayment. Can you tell me some more about that?
Hello! Unfortunately, most mortgages have that problem. Almost all mortgage lenders charge penalties for early payment! This is unavoidable. have a look at the terms and conditions of your particular mortgage. Contact a financial adviser in any case, who might find a loophole. If not, just get on and pay with it. After all you are right that paying off your mortgage is the best think anyone could do with their money!!
