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Originally Posted by etccarmageddon
you're wrong there - the redemption penalty tie in on the mortgage is only for the first 5 years not 25. so you're only 'paying' for it over the first five years by paying a fairly uncompetitive interest rate and being tied to them.
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Only *if* you redeem the mortgage after five years. And even if you shift providers you're still going to be stuck with the same amount, just (hopefully) a lower interest rate, being paid back over 25 years.