ERC halifax

skimper

Our last mortgage was with halifax that was about 7 days from ending the 2 year fixed rate. And we got a new mortgage with them when we moved. The last mortgage ended the same day as the new one started.

We used a mortgage broker to get the right mortgage for us. Before we started the application she spoke with halifax and got it in writing that when we take out the new mortgage our ERC would be refunded. I have just spoken with halifax and they said we are not eligible for the refund! As our new mortgage rate doesnt match the old one? We would never have ended it early if we knew we wouldn't get it back.

They have asked our broker to ring them and show written proof they advised we would get the money back and they will refund us. At the time our broker said she wouldn't go through with the application until she had this proof.

What happens if she can't find the email or halifax won't refund? Surely we were miss advised then? Could we get the.money back from the broker?

We are talking £1600 which we were going to use for decorating the new house.

Contemptuous

You only get ERCs refunded if you port your current rate. Have you done this, or taken on a new product?

skimper

We had to take on a new mortgage as our old one was help to buy and they wouldn't let us.

This is the email from halifax she got before we submitted the application

Please be advised that in regards to our recent conversation, the
applicants will be entitled to a refund of the ERC's if they manage to
complete within 3 months of paying off the mortgage.

If they complete out-with the 3 months, they will be charged.

Funny_old_game

Skimper

Did you use help to buy for your new purchase?

If not, I think you can only port h2b to h2b, if thats the case your broker has stitched you up.

Halifax are right about rerfunding ERC etc, but that may he a generic policy email sent and not specific to your application.

Once schemes start cropping up youd expect your broker to know their job!!!!

As you didnt go direct its likely you'll have to chase the broker for the money if its proven theory cocked up. Nightmare situation!

skimper

Our new purchase was a standard mortgage, not help to buy.

We went in to see her today and all is sorted.
When she spoke to halifax today she was told we should of been able to port our h2b mortgage to our new home and would be qualified for a refund. But when she was completing the mortgage she was told differently. She was told that you can't port a h2b mortgage, even though you can. The email she got was specific to our application and she questioned it 4 times and every time they said yes we will get the refund.

Today halifax agreed to the refund as they gave wrong information at the start of the application and we have written confirmation we would get the refund. Money should be in our bank within 5 working days.

You can port a h2b mortgage to a standard mortgage but not the other way around.