just had a thought re my remortgage and am now panicking!!

hugglette

ok i might be wrong here but thought i would post to you guys as u seem to know the answer to everything

i have a 5 yr fix with nationwide, officially ending 31st may

i am remortgaging with the woolwich and they have sent me a letter saying that they will do the remortgage 29th may

does this mean that i am gonna get early repaymnet charges? are they gonna be just 2 days worth (31st is a saturday) or more or less?

should i get the woolwich to do it later?

Noz

When does your ERC expire?

fraggle8

from what i understand if you change motgage providers even one day before your mortgage deal expires you do get charged the erc and it will be the full amount stated on your motgage agreement which is diferent for each company, if i was you i would ask woolwich to change the date by a few days just to be safe. im no expert but think this is correct?

hugglette

just checked my last statement and it said that the ERC expires 31/05/08

if i had paid the mortgage off on 31/12/07 the erc would have been 481.22 and it decreases monthly until the end of may

the 31st is a saturday tho, so how can they do that?

surely then if they are gonna charge me it is a toss up between whether we pay the erc or go to a variable rate as the mortgage will not be able to be done until the monday

waynedance

hugglette wrote: »

ok i might be wrong here but thought i would post to you guys as u seem to know the answer to everything

i have a 5 yr fix with nationwide, officially ending 31st may

i am remortgaging with the woolwich and they have sent me a letter saying that they will do the remortgage 29th may

does this mean that i am gonna get early repaymnet charges? are they gonna be just 2 days worth (31st is a saturday) or more or less?

should i get the woolwich to do it later?

easy just tell woolwich you want to complete on the 31st may, simple.

Retired_Minky

Nationwide typically have an agreement where they will let you move mortgage in the last month of your deal without penalties.

hugglette

can you remortgage on a saturday tho?

chivers1977

The acting solicitors will be requesting the funds from Woolwich a few days before completion. You need to let the sols know that you have ERC until 31/5/08 and they will complete the mortgage on the next working day . They ask for the funds in advance to ensure that the remortgage goes smoothly.

hugglette

ok will call the solicitors and let them know

only thing is the erc migh not be too different to the extra costs of going on the svr