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Dwindling Halifax mortgage
consumers_revenge
Posts: 3,568 Forumite
Hi,
Ok so I will shortly have 10k left to pay over 5 years.
I want to get this all paid off as soon as.
If when I get to the end of my fixed rate and drop onto a variable rate would there be any early repayment charges if I paid it off after 2 years for instance?
Plus I understand with Halifax on a VR there isn't any penalty for as many overpayments as you can possibly make.
Any aware.
Cheers.
Ok so I will shortly have 10k left to pay over 5 years.
I want to get this all paid off as soon as.
If when I get to the end of my fixed rate and drop onto a variable rate would there be any early repayment charges if I paid it off after 2 years for instance?
Plus I understand with Halifax on a VR there isn't any penalty for as many overpayments as you can possibly make.
Any aware.
Cheers.
0
Comments
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usually once your on SVR there is no ERC, but depends on your own T+Cs.
No harm in paying your max over payments every year to bring it down further"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Think there’s only a few quid difference being on a deal to svr so looking like the way to go.0
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Stick with the svr. I paid the 10% OP until our deal ended then OPd as much as I could once our deal ended. I was so excited to make the final payment and logged on looking to see a zero balance but instead got a “your account has been closed” what an anticlimax lol :rotfl:0
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FM but I take it theres no ERC?0
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No, there was no ERC.0
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When you get to the end of your fixed rate what is the SVR ?
if for instance its 3.5% would you be better of by moving onto a 2yr fixed rate which will be lower than the SVR.
If you do the maths or get Halifax to twerk a deal which meets your needs.0 -
At the end of your current fix just check on your current lender website what deals they have for existing customers.
Ring your lender and ask if you can reduce the term to two years and see what 2 year deals they have.
You could also look at a tracker deal with no ERC s0 -
As I’ve always overpaid and officially I have 5 years left will Halifax change the monthly payments eg lower or just stay at the same monthly amount if I just let it go svr0
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Mines only going to be 9500 still to go over 5 years so don’t think it’s worth doing a deal just svr and pay like mad.0
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What's the best 2y rate on offer.?
Might be lower than savings rates.0
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