Mortgage penalties are straightforward if you have a variable-rate mortgage — expect to pay the equivalent of three months' interest in most cases. With a fixed-rate mortgage, the penalty is set at the highest of three months' interest or a calculation called the interest rate differential, or IRD.
Things to discuss about mortgage penalty
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Erm - this is Australian site - in Australia no penalties for variable rate - go Aussie!!!
The rest doesnt really apply to us either
The rest doesnt really apply to us either
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