Process for breaking out of fixed rate mortgage

Hi,

Can anybody explain the process for breaking out of a fixed rate mortgage and switching to variable rate?

I understand the bank needs to do a calc for the redemption quote and determine if there is an early repayment charge.

I want to know can it all be done over the phone and if there is no charge, can it be done on the same day that I call in?

Do I have to give anything in writing to the bank?

Thanks,
Clare

XXX222 said:

I want to know can it all be done over the phone and if there is no charge, can it be done on the same day that I call in?

Do I have to give anything in writing to the bank?

Click to expand...

Probably depends on the specific lender's administrative policy/process.
Probably easier to just ask your lender?