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Investigating remortgaging, ERC question
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It's the percentage of the amount redeemed that counts, not the amount you started off with.
Check your own paperwork for the actual rate.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
OK all understood now. Deffo a 2K ERC fee for breaking out of the fix.
I am comparing what will happen in the next 5 years if IRs stay the same and we stay where we are, against paying up and moving somewhere else. By my calculations if we do move, then the best deal I can get is £14 per month more expensive over the 5 years. This may be a good gamble compared to if the IRs do go up, as that £14 will only reduce and even go negative, in which case I'm on to a winner.
Is it possible to pay off the ERC and remain with the Halifax on their SVR, the one that I would default to at the end of the fix? We got in before they introduced their HVR.0
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