We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Excessive ERC on my mortgage
Options
Comments
-
mechanicalman_2 said:getmore4less said:5% ERC are you sure it is not going down, some VM product are teared ERC some are fixed % for term.
what was the fixed term of your product.
it part of the decision process along with rate and other soft factors like retention deal history0 -
It'll be 5% of current balance or 5% at the start of the financial year. So the balance is still £170,000?0
-
It’s only three months, not four, and if you find that everyone’s ready to complete a couple of weeks early you can just state that you need a slightly longer gap between exchange and completion at that point.
No-one’s going to walk away from the deal at that point.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards