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Paying Off My Mortgage


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I have been given early retirement from my employer of 40 years because of ill health - I have received a small compensation payment which will cover my remaining mortgage. The mortgage is with RBS the outstanding balance is £49000 - if I pay it off completely do I receive some some sort of rebate from RBS or will I have to pay off the full amount?

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It is dependant on what the terms of the mortgage are but most would give you some rebate due to the interest not being accrued. You should write to your mortgage company asking for a figure if you were to pay it off

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