Halifax Mortgage Advice

fullofcold

I will call them Monday if no one has a definitive answer, but I am 2 years into a 5 year fixed rate period. I am selling to move. Will be using Halifax again for various reasons I imagine but the current mortgage is just in my name, and I will be applying for a joint mortgage with my husband and increasing the borrowing which will be a higher LTV, although upon checking the rates for the 5 years they are still offering the rate I am on now.
I know this is highly unlikely, but is it possible that Halifax would waive the erc under these circumstances? I appreciate that I am breaking the terms of the contract, and are prepared to pay the erc I am just curious, and of the mind set of if you don't ask ....

maximoose94

No. You are not porting the mortgage product. You are taking out a whole new mortgage product. This is one of those situations that happens unfortunately. You took the risk when you took a 5 year fix and this was one of the conditions.

haras_nosirrah

Port the mortgage and borrow more with Halifax. Then you avoid the erc

fullofcold

I can't because I don't meet affordability just in my name. Hence the question.

It's not the end of the world if we have to pay the erc.

haras_nosirrah

You can add your partner on when you port it. Why not do that?

While you would in all likelihood end up with the same lender if the erc is substantial it sounds like you could be better off speaking to a broker to discuss your options

[Deleted User]

You can port a sole mortgage to a joint mortgage

Jmaho

You're porting the rate not the mortgage. You can port from sole to joint names

fullofcold

I did not know that. I have just spoken to my broker though who said exactly the same. By the look of the rates on the website for the LTV we will need it looks like they will be the same too. If agreed you have saved me 5k.

Many thanks