dingdongdessie
Registered User
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- 1
I’m leaving a fixed 10 year mortgage with KBC as i'm relocating. I’ve 7 years left on it. It was fixed on 2.99% And I’m looking to take out a new mortgage with them on a new gaff that I’m moving to on a rate of 2.25%. Now I figured there maybe a penalty. But they are looking to recoup 28k from me for the privilege of breaking the agreement. The lump sum is 335,609 .
This is obviously an astronomical sum of money. I expected a penalty. But nothing near this. Anyone else ever get hit with a figure like this? Or can someone show the method of their maths?
Lump sum x break fund rate x unexpired fixed term/12 is how they say they are doing it. But I just can't figure it!
This is obviously an astronomical sum of money. I expected a penalty. But nothing near this. Anyone else ever get hit with a figure like this? Or can someone show the method of their maths?
Lump sum x break fund rate x unexpired fixed term/12 is how they say they are doing it. But I just can't figure it!