New place - stick with current provider to avoid ERC?

cgray25

It seems increasingly like global events are consipiring against me (and everyone else!) but I've just bought a new flat and will have to sort out the mortgage. Unfortunately I hadn't seen the event coming and am a year into the 2 year fixed deal on my current flat (with A&L). I know this will likely mean ERC if switching to a new mortgage provider, whereas A&L said there would be no charge if I "upgraded" my mortgage with them.

Is it still worth-while speaking to an IFA in this situation?

Also, on a side note, my parents have savings totalling roughly 75% of my mortgage value - if they were agreeable, is there anything that can be done with intelligent finance that may prove mutually beneficial?

minimike2

If you are one year into a two year fixed why are you looking to change it? You will be on a lower rate now than any new deal available, surely?

_Andy_

Agree with the above post. You should be able to just port your existing mortgage over to the new place.

cgray25

Yes, sorry if I didn't make myself clear, I was just wanting confirmation that porting would be the best option.

minimike2

Ahh right, yes definately!