Rate expiry is 30th June with FD, do I need to have a completion date of 1st July?

IAMIAM

To avoid ERC? Would prefer 30th June and pay it off then (a Friday) when changing lenders

K_S

@iamiam What is FD's ERC policy - is it like it's parent HSBC (pro-rated so it's fine because you'll only incur an ERC that is 1/365 of 1%) or is it like most other lenders (100% of the ERC until and including the last day of the fix).

If the former then 30th might be fine, if the latter then it'll have to be 3rd July I guess.

The ERC info should be available on your FD mortgage offer from when you took it out. Hopefully it looks like HSBC's!

In any case, do consult with your solicitor to make sure you won't incur ERC.

IAMIAM said:

To avoid ERC? Would prefer 30th June and pay it off then (a Friday) when changing lenders

IAMIAM

Its the latter.....so annoying as my payment date is the 1st of every month and I wanted to avoid a payment on the 1st July. And so my redemption statement expires 30th June, so I feel its going to drag into a new redemption statement and completion date well into July!!!