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Old 26.02.2021, 09:23
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Notice period mortgage

I have a question regarding notice period for mortgage. In mortgage contract it is mentioned that after the expiration mortgage contract can be cancelled by written notice. However, nothing is said regarding notice period. Is there any general notice period by law? Just not to miss an opportunity to switch banks. Thanks
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Old 26.02.2021, 11:33
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Re: Notice period mortgage

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I have a question regarding notice period for mortgage. In mortgage contract it is mentioned that after the expiration mortgage contract can be cancelled by written notice. However, nothing is said regarding notice period. Is there any general notice period by law? Just not to miss an opportunity to switch banks. Thanks
That would be for a fix that ends on a particular day.
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Old 26.02.2021, 13:59
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Re: Notice period mortgage

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That would be for a fix that ends on a particular day.
I just read in the local newspaper that it must be anyway cancelled in written (despite expiration of fixed term) and notice period may apply. So, I wonder.
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Old 26.02.2021, 15:35
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Re: Notice period mortgage

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I just read in the local newspaper that it must be anyway cancelled in written (despite expiration of fixed term) and notice period may apply. So, I wonder.
If you want to pay back probably as it would revert to some sort of variable rate as described in the paperwork.
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Old 26.02.2021, 16:03
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Re: Notice period mortgage

It'll probably be converted into a variable interest rate mortgage, upon which those conditions apply, including notice period.

Unless your contract, T&C, etc state anything to the contrary you should be able to cancel anytime. But canceling way ahead may be problematic if you have no contract elsewhere yet while for instance your income drops.
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