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Porting HTB with Barclays
TDCTimmins
Posts: 1 Newbie
I've currently got my mortgage with Barclays on a HTB 5 year fixed rate. We're looking to purchase a new property, and our mortgage advisor has explained that you're unable to port a HTB product like you normally would. Instead you have to pay the ERC, then take a new deal with Barclays (at a lower interest rate which is nice) and then they refund you the ERC fee.
My question is, does anyone know when they need the early repayment charge and how long it takes them to refund you the charge? My only concern is it taking months, as we would be due to pay our wedding balance shortly after legal completion.
My question is, does anyone know when they need the early repayment charge and how long it takes them to refund you the charge? My only concern is it taking months, as we would be due to pay our wedding balance shortly after legal completion.
0
Comments
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ERC will be required at the point you sell and purchase i.e. completion. Might well be longer than usual but certainly not months in terms of receiving the refund. .0
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