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Excessive ERC on my mortgage
Comments
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They(reducing % erc) were available when you chose this mortgage.mechanicalman_2 said:
100%. It has been 5% since day 1 and doesn't change. Most other mortgages I have seen have a 1% reduction year on year.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
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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
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