Mortgages without Redemption Fees

When looking at mortgage deals it is important to investigate the tie in periods contractual to the home loan. In an ever increasingly competitive market place lenders are now often offering loss-leading mortgage products to win your business. They offer very attractive intial rates followed by expensive rates in a subsequent period. In order to prevent you from jumping in an out of these "top deals" they charge a redemption fee if you want to repay the loan early (remortgage or settle).

Redemption fees are usually a multiple of between 2 and 6 months rmortgage payments. This can make it very expensive if you have not done your initial homework. It is advisable to seek sound mortgage advice if you are unsure about the terms of mortgages as there are very competitive deals out there that you can get with minimal or no early redemption charges.

Mortgages can be classified by type and then by their features. Below are the major types of mortgage as classified by mortgage brokers and mortgage lenders. Within these "mortgage types" are different mortgage products with different features. For example, you can get Fixed rates, variable rates, no redemption fees, base rate trackers, 90% mortgages, and interest only mortgages. For more information on mortgage criteria and terms take a look at our alphabetical mortgage glossary.

If you are looking to secure your mortgage or remortgage finance, would like some advice, or just want some quotes, fill the form on the left or click the button below-