Thread: Mortgages
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Old 30-06-2007, 19:36   #3
Kneebs
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Re: Mortgages

It depends on what the tie in period is - on some it can be just for the period of the fixed rate scheme - 3 years, then you're free to move to who you want without penalty. Others have tie in periods where it'll be 6% for the scheme duration, then reduce by 1% each year - some I've looked at you'd end up having to pay a fee for upto 9 years from taking the mortgatge.

Basically, they're all different so you'd have to have a more detailed look into it - moneysupermarket, moneyextra etc have a 'more info' button which will tell you the details.

There will always be a 'release fee' though, no matter when you switch mortgages.
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