skipton wont let me port my new mortgage over

MarkyMarkD

I think your original broker's advice is completely duff.

As I've posted on other threads, portability is only good as far as it goes. If any of the circumstances change to make the lender not like your new mortgage:

- income
- type of employment
- credit history
- type of property
- area of property
- anything else they care to think of

... you could end up with a non-portable mortgage, and paying an ERC and STILL losing the original product.

Far better to stay flexible whilst you are not tied in to anything. A few months at SVR isn't going to kill you.

If you were talking about longer than a few months, you could remortgage fee-free to the ING deal - no charges in or out - and then get what might be a more suitable product when you eventually move house.

stolt

if i don't continue with the skipton now, will the broker lose his fee, he's obviously told me to stick with it for the time being and other than the valuation fee there is nothing else that i have paid.

homer_j_3

he wont have been paid a fee until it completes (if he is a fee free broker) if he charges you will need to refer to what he provided you with at the time of discussing his fees.

stolt

homer_j wrote: »

he wont have been paid a fee until it completes (if he is a fee free broker) if he charges you will need to refer to what he provided you with at the time of discussing his fees.

yeah hes a fee free broker, and gets his commission from the lender. I just didn't want him to be paid until I felt like i had been helped (and at the moment I feel a little let down by him)