HSBC porting and Early Repayment Charge
sz1517
Posts: 10 Forumite
We completed on 16/10 stayed with HSBC as per Mortgage Advisors advice to avoid Early Repayment Charge so ported our current mortgage over and have borrowed more to make up the difference. We have been charged an early repayment fee does anyone know if this is right? The Mortgage Advisor told us we wouldn’t be paying it. Thanks.
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Comments
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Hi we currently ported ours from Barclays we got 10years fixed in 2016 ported with exactly same rate and no Early repayment charge but we reduced our balance by 15k0
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Were the sale and purchase concurrent?
Was your solicitor made aware and knew to deduct the ERC from the redemption statement?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Sale and purchase same day and I didn’t make my solicitor aware of anything. Mortgage done via a broker didn’t know I was suppose to. Possibly what I’ve done wrong then?kingstreet said:Were the sale and purchase concurrent?
Was your solicitor made aware and knew to deduct the ERC from the redemption statement?0 -
On your mortgage offer does it have 2 products listed or 1?0
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You should have queried this when you received the draft completion statement from the solicitor.0
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