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Mortgage charge.

terabyte · 2020-06-21 17:23:05

My girlfriend and I are buying a house together, she owns a flat currently which she is selling, I also own a flat which I’m selling. Both of us were on fixed term mortgages with ERC’s. As mine had the higher penalty (3 years left and something like 4K as a penalty) I ended up applying for a port of my mortgage to the new…

Comments

D.L Posts: 137 Forumite

22 June 2020 at 12:14AM

Seems the sensible thing financially would be to delay a month as I expect the regular monthly payment, and certainly the interest accrued, is less than £1.8k.

When looking at mortgages in the future, you can also choose more flexible mortgages, e.g. with no ERC at all, at the expense for a slightly higher interest rate. You tend to pay for the privilege of flexibility.

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