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ERC on a mortgage
emalou2_2
Posts: 4 Newbie
Can anyone tell me are ERC's applicable if you are selling a 2nd property? Ie if you have bought as an investment project, have had all your work completed and are looking to sell at a profit?
Do erc's apply or is this just if you are switching a lender?
Thanks
Do erc's apply or is this just if you are switching a lender?
Thanks
0
Comments
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ERC's relate to paying off a mortgage early not selling for any reason or remortgaging.
The lender offers you a product with a lower rate or feature and for this you agree to stay with it or pay a penalty."Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
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