Good rate .. ?

kingstreet

carla_004 wrote: »

On any mortgage, cos I was very fussy about asking this and repeated the same questions about 5 times to three different people and they all said I don't have to ..

If you are in a fixed rate, there's a very good chance there's an ERP. If you look on your original key facts illustration or mortgage offer, there's a section headed, "10. What if you don't want this mortgage any more" and it should read;-

Early repayment charges are payable on this mortgage until 31 Aug 2015

Cash examples if you repay the mortgage in full

Basis of charge 3% until 31-08-14, 2% until 31-08-15

Date of repayment 01 Aug 2013 - 31 Aug 2014
Maximum Charge for period £ 2730
01 Sep 2014 - 31 Aug 2015 £ 1820.
The maximum charge you could pay is £ 2730. These are cash examples. For further information refer to offer document from lender.

Obviously, the dates and amounts will be peculiar to your KFI or offer, I've used these purely as an example.

carla_004

Suarez wrote: »

Are you with Halifax by any chance? We are on the same rate as you and I noticed they have reduced the rates now. We have only had our mortgage for 5 months.

We are with Halifax - didn't notice a decrease but then wasn't looking!

We also didn't get charged for over paying during the first year
But I kind of knew that cos that was one thing I wanted when we got it so knew I'd asked and double asked and triple asked just to make sure lol

carla_004

Although I still have no idea what happens when we come to the end of this 2 year fixed term!! Is that purely an individual thing or same thing would happen to everyone ... I'm sure my OH said it will go with the interest rate, no idea what interest rate he is on about ..