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!
paying ERC charge and moving
Options

Marvel123
Posts: 30 Forumite

we are 15 months into our 5 year fixed nationwide mortgage @ 2.19%
we want to move as our house but need a bit of advice on moving mortgage and how it works
we are prepared to pay the 7k ERC, and with a deposit we would need roughly the size of mortgage we currently have for a new property.
is it a case of moving mortgage to a different property or do you need to go through whole application again ( our income is about 6k then wen we applied )
we want to move as our house but need a bit of advice on moving mortgage and how it works
we are prepared to pay the 7k ERC, and with a deposit we would need roughly the size of mortgage we currently have for a new property.
is it a case of moving mortgage to a different property or do you need to go through whole application again ( our income is about 6k then wen we applied )
0
Comments
-
Have you considered porting the mortgage to the new property? A full application will still be required.0
-
Doing the same with HSBC and porting the mortgage. It won't be worth paying the 7k, unless you personally just want to.0
-
thank you both so porting seems possible - confirmed with Nationwide
could you provide further assistance if possible please?
-we have o/s balance of £155k on mortgage, if we sell our house for £280 , we would have £125 equity
-our income has gone down and affordability calculator says Nationwide would lend us £145
does that mean it would till be possibly? would we need to make the £10k difference up from savings?0 -
I'm trying to work out what price we could go to on a new property to see of it's worth porting , or just selling up0
-
Whatever you do this is going to be expensive.
Why do you needed to move that is not clear.
0 -
getmore4less said:Whatever you do this is going to be expensive.
Why do you needed to move that is not clear.
we have issues with the house ( personal ) and would rather sell now whilst prices are at a preminum in our area0 -
Put home up for sale !
Find new property ? Budget £250/260,000
Port current mortgage0 -
Marvel123 said:thank you both so porting seems possible - confirmed with Nationwide
could you provide further assistance if possible please?
-we have o/s balance of £155k on mortgage, if we sell our house for £280 , we would have £125 equity
-our income has gone down and affordability calculator says Nationwide would lend us £145
does that mean it would till be possibly? would we need to make the £10k difference up from savings?0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards