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Paying off mortgage.

  • 02-07-2013 2:41pm
    #1
    noddyone2
    Registered Users, Registered Users 2 Posts: 313 ✭✭


    Hi Guys,
    Maybe something similar has been covered already, but any advice would be greatly appreciated:
    We have an ''offset flexible mortgage'' with Ulster Bank, arrears of E6,000. Balance of E42,000, incl. arrears, mortgage to run to 2018. I will be in a position to pay off the mortgage at the end of August, when I retire. Should I ask them for a discount for early repayment? If so, better to go to the local branch or deal with head office?
    I will not be in a good position after August to continue paying monthly, so the question just relates to whether I might expect a discount. Thanks.


Comments

  • #2
    notahappycamper
    Registered Users, Registered Users 2 Posts: 2,142 ✭✭✭notahappycamper


    noddyone2 wrote: »
    Hi Guys,
    Maybe something similar has been covered already, but any advice would be greatly appreciated:
    We have an ''offset flexible mortgage'' with Ulster Bank, arrears of E6,000. Balance of E42,000, incl. arrears, mortgage to run to 2018. I will be in a position to pay off the mortgage at the end of August, when I retire. Should I ask them for a discount for early repayment? If so, better to go to the local branch or deal with head office?
    I will not be in a good position after August to continue paying monthly, so the question just relates to whether I might expect a discount. Thanks.

    Worth a try I guess but I would be very surprised if they will write off an amount for you as it's a secured loan! Ring head office and ask for the Redemptions section.


  • #3
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    notahappycamper wrote: »
    Worth a try I guess but I would be very surprised if they will write off an amount for you as it's a secured loan! Ring head office and ask for the Redemptions section.

    No way will they give discount on secured debt like a mortgage right at the end.


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