early repayment charge, help!

neerjgjoshi

I had a tracker mortgage with halifax for 200K. Towards the end of 2 years, I made a 10% early reapyment (Jan07). I then took a remortgage with halifax again for the same property at a fixed rate. I made a 10% early repayment in April 2007 on the remortgage. Now, the halifax says I have to pay early repayment charge on this as it has not been 12 months since my last early reapyment. I had been advised that this being a remortgage, should be treated separately from the previous mortgage and, therefore, the question of early repayment charge doesn't apply. what do I do? Do I pay the 3% charge.

JoeK_3

You need to look at your mortgage offer, of when you remortgaged.

If you do have to pay a penalty, it will probably only be a % (3%) of the overpayment that you made.

Regards

JoeK