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Early settlement charge

Aligbomb87 · 2021-08-19 14:53:37

Hi all. Hoping for some input here. Tied in on current mortgage for another 3 years but had an amazing offer on the house with substantial equity so decided to sell. Found a house that is the same i paid for my current and approached my lender with the proposal of porting the mortgage exactly as it is with me paying the…

19 August 2021 at 3:53PM in Reclaiming mortgage fees, council tax, etc

11 replies 294 views

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21 August 2021 at 1:12PM

Thrugelmir Forumite
89.5K Posts

Forumite

21 August 2021 at 1:12PM

Aligbomb87 said:

Thanks everyone for helping me see and again i apologise if I bit more than I should. I wear my heart on my sleeve as you can probably tell 😂

It's a common misunderstanding that people have with regards to ERC's. When deciding whether to fix and for how long. The penalty needs to be factored into decision making. Far too often it's the headline interest rate that drives the decision.

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