Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Higher Early Redemption Fee as it relates to mortgages in the UK. Higher Early Redemption FeeWhen a mortgage has a higher early redemption fee it means that in addition to the standard redemption fees on a mortgage product, there will be increased redemption penalties if the mortgage is paid off within a specific time period. Depending on the introductory offer, this could normally apply for the first 1-5 years of the mortgage term.
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