Chao Lao Beach Posted May 26, 2015 Share Posted May 26, 2015 Hi, there is a Gov Dept or banking regulator that publishes the rules for each bank re the penalties for paying off a home loan early. Generally I thought it was 3%, anyone knwo the link please ? Some banks differ alot. Link to comment Share on other sites More sharing options...
patekatek Posted May 26, 2015 Share Posted May 26, 2015 We have a Bangkok Bank home loan. I asked about early pay off for our loan and I was told that after 3 years it can be payed off with no penalty. Link to comment Share on other sites More sharing options...
cornishcarlos Posted May 27, 2015 Share Posted May 27, 2015 3 years for us too, otherwise 60k ! They did tell us originally that no penalty but as soon as I asked to pay off early, up it popped Link to comment Share on other sites More sharing options...
Crossy Posted May 27, 2015 Share Posted May 27, 2015 Ours is 3 years too (with SCB) but it does depend upon the wording of the contract, we have friends who are stuck with early payment penalties for 10 years. Link to comment Share on other sites More sharing options...
mikebell Posted May 27, 2015 Share Posted May 27, 2015 I had a mortgage in UK & found I could pay it off early. The Building Society proposed a financial penalty which I considered unfair. Our repayments were based on a % of the sum owed. I paid it all off early except for 5UKP & set up a bank standing order of 1 pence a month. Link to comment Share on other sites More sharing options...
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