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portable mortgage query
lethal0r
Posts: 408 Forumite
If my mortgage was portable and also had an early repayment charge, moving house would still incur the charge wouldnt it? the portablity doesn't stop the ERC, just entitles me the same product on the new house?
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Comments
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No portable normally stops the ERC. Whether you will be allowed to port the mortgage will depend on the current lending criteria for the new purchase, it is not automatic. So if the new application meets current lending criteria you will be able to port your old deal.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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