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    • Lotak
    • By Lotak 10th Aug 18, 3:36 PM
    • 80Posts
    • 57Thanks
    Remortgaging between Halifax and Lloyds
    • #1
    • 10th Aug 18, 3:36 PM
    Remortgaging between Halifax and Lloyds 10th Aug 18 at 3:36 PM
    Hi there,

    I'm in the process of remortgaging.
    Because I moved house during the the fixed period, I happen to have a mortgage with two sub accounts, whose end dates are 6 months apart.

    We all know that most lenders will allow someone to remortgage with them with no ERC within 3 months of their fixed term expiring. Apparently, this "offer" extends to remortgages within the Lloyds Banking Group, so if I want to remortgage from Halifax to Lloyds, Halifax will waive the ERC 3 months early, as if I were switching my deal with the Halifax.

    Has anyone ever heard of this or actually did this?

    I hadn't known this until today when I asked for an early redemption figure. I'm wondering if it's too good to be true.

    Effectively, given my circumstances and the fact my mortgage offer will expire 1 month before the second fixed rate ends, it only makes financial sense for me to remortgage immediately after my first rate expires or immediately after the second rate expires as Halfax's current switching rates are extremely uncompetitive. However, if they waive the ERC on the second rate 3 months early, it would make more sense to wait 3 months.
    Current Debt (excluding mortgage) - 13.8k
    Reducing 600 / month.
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