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Virgin Money Remortgage - cooling off period
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sderrick
Posts: 24 Forumite
Hi, I have searched the forum but cannot find an answer to my question.
My intial fixed deal came to an end and I have just signed a remortgage 2 year tracker with a 1% ERC about 2 weeks ago, it has been sent back to Virgin Money and confirmed it will be on the new price from March 1st.
Now the tricky bit, I've just had the sell the property. Is there any cooling off period if I told them today before it's even kicked in or do I just have to suck it up and pay the ERC?
My intial fixed deal came to an end and I have just signed a remortgage 2 year tracker with a 1% ERC about 2 weeks ago, it has been sent back to Virgin Money and confirmed it will be on the new price from March 1st.
Now the tricky bit, I've just had the sell the property. Is there any cooling off period if I told them today before it's even kicked in or do I just have to suck it up and pay the ERC?
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Comments
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Mortgage will (potentially) be redeemed as part of the sale process. Being a tracker there'll be no exit penalty.0
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If you are an existing borrower, you completed a product transfer, or customer retention product, not a remortgage.
You should have been provided with an illustration, or even a product transfer offer which sets out your rights.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
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