Can I sell my house during a fixed rate mortgage?
Yes, you can sell your house while you are still in a fixed-rate mortgage. The mortgage does not stop you from selling, but you will need to settle the remaining balance when the sale completes.
Most lenders will charge an early repayment charge (ERC) if you leave your fixed deal before the term ends. This is usually a percentage of the outstanding loan and can vary depending on how long is left on your fixed period.
When selling, the process typically involves:
- Checking your mortgage statement for any early repayment charges
- Obtaining a redemption figure from your lender
- Ensuring the sale price covers the remaining mortgage balance
- Completing the sale through a solicitor who repays the lender on completion
If your property value has increased, the sale proceeds will usually cover your mortgage and any fees. If not, you may need to contribute funds to clear the balance.
If you want to avoid delays or uncertainty around fees and timing, Sell House Fast can help by providing a quick cash offer and managing the process through to completion.
