Hi,
I am terminating a mortgage in February. It had a 3-year fixed rate period and an early termination charge of about 6300. However, when I terminate the mortgage there will be only 3 payments of 800 outstanding. Do I have any case / mechanism for moderating the early repayment fee? What if I paid the 2400 up front? If I have a case, how do I go about it?
I will be unable to defer the actual transaction until the 31/5/07 when these charges cease to apply. Possible some sort of paper deferment might be arranged.
TIA for advice.