When will a bank charge a penalty to cancel a mortgage?

Should a customer opt to make use of their Flexi Reserve after issuing an instruction to cancel, the cancellation process will need to be halted and restarted after the withdrawal has been made.Is it possible to provide a bank with written notice that we intend to settle the home loan of our property without actually cancelling the bond? I have a cash buyer and we are in the process of negotiation.South Africans need to be in the know if we want to create a prosperous future.

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