Mortgage redemption

[Dr Jekyll]

Suppose the lender said, 'You owe £10,000 on the mortgage, there are no overpayment fees but if you want to pay it all off there is a £100 early redemption fee'.

What would happen if I paid £10,000? Would they say I'd paid the mortgage off so still owed them £100? Would the £100 be regarded as an outstanding mortgage balance with a charge on the property?

[Ozzie Osmond]

It's perfectly possible to have a charge over a property with zero balance outstanding. If the documentation says there's a £100 fee for getting rid of that charge then there's a £100 fee for getting rid of that charge.