Remortgage without Early Repayment Charges

SpeedyTurtle_2

Hi All, 

I wonder if I can get some helpful advice about our situation.

What is the best way to get a remortgage deal at a reasonable rate that comes with no early repayment charges, if it is possible at all?

A bit of background, our current mortgage deal ends on 1st of April and moves to SVR which increases our mortgage payment by £200 a month (1.55% to around 4%).We are in the middle of divorce/financial settlement proceedings that may take at least four months to settle. Ideally, we don't want to sign up for a fixed deal with ERC in case we need to sell the house as a result of the settlement. 

Any helpful advice will be highly appreciated, 
Many Thanks 

kingstreet

Look for an ERC-free tracker product.

If your existing lender doesn't offer one for retention customers, you may actually have to remortgage (a new mortgage with a new lender to repay the old one.)

Thrugelmir

Your options would appear to be limited given your circumstances. In everyone’s interests to agree finances as quickly as possible.

K_S

SpeedyTurtle_2 said:

Hi All, 

I wonder if I can get some helpful advice about our situation.

What is the best way to get a remortgage deal at a reasonable rate that comes with no early repayment charges, if it is possible at all?

A bit of background, our current mortgage deal ends on 1st of April and moves to SVR which increases our mortgage payment by £200 a month (1.55% to around 4%).We are in the middle of divorce/financial settlement proceedings that may take at least four months to settle. Ideally, we don't want to sign up for a fixed deal with ERC in case we need to sell the house as a result of the settlement. 

Any helpful advice will be highly appreciated, 
Many Thanks 

@speedyturtle_2 What Kingstreet said, either product-switch (staying with the current lender, no assessment) to a no/low ERC tracker or discount product, or remortgage to a new lender to a no/low ERC tracker/discount product. The remortgage will require a full assessment and might be complicated by your current situation.