northern rock mortgage

want2bmortgage3

trouble is, what if i want to sell but not buy anywhere else? can i still get out of the early redemption fee then?

i signed up for a 5 year term in july 06 and thought the early redemption fee only lasted 3 years but now i've been told it runs til the end of this year (dec 2010).

loopy_lou_6

No it seems that would not fit the criteria for refunding the ERC.

want2bmortgage3

thanks for all the info so far, looks like i have 3 options then:

1. decorate and sell up now (while weather good and condensation problem minimal), take the hit of the erc and hope the sale price covers it

2. sell now and buy something 10-20k cheaper, with rental potential, and also somewhere i could live in the future if current living situation changes

3. wait til december to sell, tenant might be frustrated and condensation might be a problem at this time

hmmm... decisions

mutron_2

There's an article on the Times Online site from January 24 of this year that is worth checking out with regard to the ERC fees. The title is 'Paid by Northern Rock to go away'.

(Sorry, I'm not allowed to post a link apparently!)

want2bmortgage3

looks like that offer only applies to people who want to take out a larger mortgage with a different bank.....