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Are early repayment charges still payable if you sell the house
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SAMMYE_2
Posts: 244 Forumite
Sorry if this seems a stupid question but are Early Repayment charges still payable if you sell a property before the deal period ends?
Cheers
Cheers
[STRIKE]£106,200[/STRIKE] mortgage with 5% deposit 2 years ago on 6.99% 04/06/08 :eek:
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/11
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/11
0
Comments
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Yes, you still need to pay the ERC. If you buy again within 6 months, some lenders will reimburse you if you get a new deal with them0
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Yes, you still need to pay the ERC. If you buy again within 6 months, some lenders will reimburse you if you get a new deal with them
Cheers I've been thinking about getting rid of the flat I am currently renting out to save all the hassle that comes with being a LL but as I have got another 2 and half years on the deal I might as well stick with it.
Cheers again[STRIKE]£106,200[/STRIKE] mortgage with 5% deposit 2 years ago on 6.99% 04/06/08 :eek:
Overpaying the max 10% per year for the next 2 years until July 2013 when I can remortgage and should be able to get down to 55% LTV.
Overpaid 10% £10,619.87 Dec 2010 & 10% £9,475 Aug 2011
Mortgage was £690 now £560
Currently £85,203 - 71% LTV 26/08/110 -
Not all its cracked up to be this landlord lark is it? Some fools still think its a passport to riches....oh dear...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
Well it was... before every Thomas, Richard and Harold joined in.
Now then, where do I go to buy GOLD these days, I hear it's the next big thing.0
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