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If you paid off an ERC....

Simple question:

If an Early Repayment Charge is paid off in advance do you simply go onto the lenders variable rate?

Thanks

Comments

  • Fairwinds
    Fairwinds Posts: 792 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Not necessarily. Nationwide won't ( or certainly wouldn't a couple of months back, when I was looking) give you another mortgage if you repay in full, hence you need to go to another lender.
  • mulderbauer
    mulderbauer Posts: 13 Forumite
    Ah, not the answer I was expecting and hoping for Gordon...... this mortgage is with the C&G.

    Im sure the answer to another question is definately no then....! would they entertain adding an ERC onto the mortgage and letting you go onto their variable rate.....?
  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    NO NO NO but nice try
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