Are there no more tracker mortgages with no early repayment charges?

SouthLondonUser

It used to be the case that one could get a tracker mortgage with no early repayment charge.

Have these products all been pulled from the market? I can only find trackers with an ERC.

I was discussing this with a friend who needs to remortgage now but knows is likely to sell in the next 6 months and will probably have to break the chain (sell, rent, for a year, then buy again) for some personal circumstances not worth discussing here. I did the same a few years back, but it seems that now there are no more mortgages without an ERC. Is that really the case?

The only one I have been able to find is the Kensington long term fix https://www.kensingtonmortgages.co.uk/intermediaries/products/residential-lending/flexi-fixed-for-term-faqs which charges an ERC if you remortgage to another lender but not if you sell the property. Do you know of other options? Yes, my friend will speak to a broker, I was just curious about the forum's experience.

muffinek

Barclays offer 2 or 5 year trackers with no erc. 

K_S

@SouthLondonUser Barclays, HSBC, Nationwide, Santander all currently offer ERC-free tracker products. There used to be a couple of direct-only products as well until before the budget but I don't see them any more.

SouthLondonUser said:

It used to be the case that one could get a tracker mortgage with no early repayment charge.

Have these products all been pulled from the market? I can only find trackers with an ERC.

I was discussing this with a friend who needs to remortgage now but knows is likely to sell in the next 6 months and will probably have to break the chain (sell, rent, for a year, then buy again) for some personal circumstances not worth discussing here. I did the same a few years back, but it seems that now there are no more mortgages without an ERC. Is that really the case?

The only one I have been able to find is the Kensington long term fix https://www.kensingtonmortgages.co.uk/intermediaries/products/residential-lending/flexi-fixed-for-term-faqs which charges an ERC if you remortgage to another lender but not if you sell the property. Do you know of other options? Yes, my friend will speak to a broker, I was just curious about the forum's experience.

SouthLondonUser

Thanks for pointing these out. No option came out with the money saving expert mortgage finder (which does have an option for no erc) and I couldn't find any details on Barclays' website,.

housebuyer143

SouthLondonUser said:

It used to be the case that one could get a tracker mortgage with no early repayment charge.

Have these products all been pulled from the market? I can only find trackers with an ERC.

I was discussing this with a friend who needs to remortgage now but knows is likely to sell in the next 6 months and will probably have to break the chain (sell, rent, for a year, then buy again) for some personal circumstances not worth discussing here. I did the same a few years back, but it seems that now there are no more mortgages without an ERC. Is that really the case?

The only one I have been able to find is the Kensington long term fix https://www.kensingtonmortgages.co.uk/intermediaries/products/residential-lending/flexi-fixed-for-term-faqs which charges an ERC if you remortgage to another lender but not if you sell the property. Do you know of other options? Yes, my friend will speak to a broker, I was just curious about the forum's experience.

Skipton were offering trackers with no ERCs.