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ERCs and remortgaging
sokster
Posts: 12 Forumite
There's not much action on the ERC thread, hope nobody minds the post here. If i were to pay ERCs to re-mortgage would i be able to add the fees to the new mortgage or would the fees have to be paid before the new mortgage was taken out?
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Comments
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they would be paid as part of settlement of old mortgage. If you then borrow that amount on the remortgage, that will be covered.0
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It may impact the LTV and therefore the mortgage offer0
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Thanks a million0
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Do your sums to make sure any ERC's payable will be recouped on savings with the new mortgage. Remember to factor in any fees such as arrangement, valuation and legals.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Aye, will do, cheers0
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