5 year fix seems to stretch for 7 yrs .... see screen shot

MrGorsky

Hello all,
I was looking to remortgage later this year, as I believed I was on a 5yr fix since Sept 17.
My Mortgage status screen in the online portal looks really odd though, it states 5 yr fix since Sep 17, but seems to imply I'm tied in until  Nov 24

K_S

@mrgorsky Sounds like a Virgin direct product?

It looks odd as you say, unless I'm missing something obvious. If the ERC is 3.5% flat then that suggests a 5 year fix as Virgin's current 7 yr fixes come with stepped ERCs going down to 1% in the final year.

Unless the start date of Sep'17 is when you originally took out a 2 year Virgin fix and then did a rate-switch to a 5-year fix in 2019. But you would remember that I think!

dimbo61

Maybe speak to your mortgage centre on Tuesday and find out where you stand.
Still not a bad rate IF your not looking to move in the next 30 months ?

That looks like £9,000 ERC if you pay off the mortgage before November 2024 ouch !

getmore4less

One of your other threads you say you were due to change 2019.

MrGorsky

Thanks all for the detective work, no idea how I forgot ... but yes, I refixed in 2019 for 5 years. Darn it. Ok, plans will be revised. Thanks all.