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Halifax mortgage

Four years ago we paid off our mortgage leaving £125 outstanding for which the Halifax stored our deeds free of charge. At the time we received a letter stating there would be no extra charge when we decided to pay off the balance because the mortgage had lasted more than 10 years which unfortunately we did not keep. Today we went to pay off the balance only to be told that there would be a £50 administration fee. I'm now trying to find someone else who has previously paid off there mortgage early without having to pay the admin charge, or some way of finding out previous Halifax practises. Richard.

Reply to
ric
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I think that you are confusing a redemption fee with the release fee.

It is normal to pay a (nominal) release fee when you finally discharge the mortgage. Whether you have to also pay a redemption fee depends upon the terms of the loan.

I think that you will not find anybody who has not had to pay the release fee (but you may find thousands who missed it in their final statement).

Reply to
tim (moved to sweden)

Nationwide don't charge a fee at the moment, but will be doing from May (90 if you pay off the mortgage more than 10 years before the end of term).

Reply to
Andy Pandy

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