I found this article really useful as it highlights the issue of mortgage redemption or exit fees, which a lot of people don’t think too much about when buying a property. Certainly when we paid off the small mortgage we originally had on our property here, we were not expecting to pay several hundred euros to redeem our loan.

This has been the subject of a number of articles in the Uk press recently as redemption fees have been going up considerably in recent years, and people have found themselves paying the rate at the time they paid off their mortgage and NOT the correct rate as specified in their original mortgage contract.

The article discusses this and warns expats looking to buy abroad that this is still something to watch out for when looking for an overseas mortgage.

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