I bought my first house at 22 (>20yrs ago) and since then have bought/sold a few times. Didn’t know this, and always assumed you couldn’t/shouldn’t really sell in the first few years simply because of fixed term mortgage rates.They do say this - it’s not a law but it’s a rule of thumb to recoup any of the costs of buying, also it does raise questions why you’re leaving so soon but considering the last 2 years it’s happening more often. Also they generally say any cash you invest in anything should be held 5+ years to ride out any market perturbations lol.
I couldn’t believe she didn’t own either, but after 2 years of witnessing her excessive consumption can fully believe it!![]()
My point being that if you sell within your fixed term 2/3/5 years in my experience then the bank will give you financial penalties.