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Urgent - completion today - mortgage ERC
InhaleMood
Posts: 308 Forumite
Hi,I am due to be completing today!
I have just been sent the Mortgage Redemption Statement and it includes£1195.23 for an Early Repayment Charge.
I am redeeming before the Fixed Rate ends, but am porting my mortgage, so was told I wouldn't have to pay for it.
The solicitor is saying I just need to pay it and get it back from Santander later. Is that right?!
Really appreciate any advice!!!
I have just been sent the Mortgage Redemption Statement and it includes£1195.23 for an Early Repayment Charge.
I am redeeming before the Fixed Rate ends, but am porting my mortgage, so was told I wouldn't have to pay for it.
The solicitor is saying I just need to pay it and get it back from Santander later. Is that right?!
Really appreciate any advice!!!
0
Comments
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Have you called Santander?0
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Only the lender can answer this.
Some lenders charge it and refund it. Others don't charge it.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 -
Usually only paid & reclaimed if there is a break in ownership - say you sold up but didn't rebuy within a period of time..
Assuming everything has been handled correctly as a Porting - e.g. Further advances - and not a switch on the Mortgage product then should be ok..
Check the new mortgage offer you have - is it just for the additional funds? or has it been worded as a new advance.. As I did have a similar dispute with Britannia when moved previously..0 -
Finally managed to get through to Santander and it's all fine. They charge it now, but as long as I complete in 90 days, they will refund it.Phew, panic over!!!
Thanks all
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