How much to move/change mortgage?

sevenhills

I am very much in favour of a long term fixed mortgage, but unsure about how much it costs to undo the fix.
Just looking, and its £100 to change to buy to let, Mortgage exit fee = £125 plus interest.I assume that the interest charges are punitive?I hope to be sending my mortgage application to Coventry BS in a few days, 10 year fixed.

clairebeth

Are you asking what the charges are for leaving your current deal, or the Coventry one? Does it not mention the ERC on your key facts illustration?

clairebeth

Is it the 2.39% fixed for 10?

It says:

Early repayment charges

5.00% of the balance repaid until 30.06.19, then 3.00% until 30.06.22, then 1.00% until 30.06.27

You can repay up to 10% of the capital p.a. without an early repayment charg

sevenhills

clairebeth wrote: »

Are you asking what the charges are for leaving your current deal, or the Coventry one? Does it not mention the ERC on your key facts illustration?

clairebeth wrote: »

5.00% of the balance repaid until 30.06.19, then 3.00% until 30.06.22, then 1.00% until 30.06.27
You can repay up to 10% of the capital p.a. without an early repayment charge

Just looking to understand how it works. I cannot imagine I would want to leave my house, but the future is unpredictable.
1% after five years sounds ok