RE: Financial advice…10 Jan 2022 08:42
Hi there. Your decision whether to break your current deal or ‘port’ also depends on how much you have outstanding and the interest rate applied to that element of your overall mortgage. Paying the ERC may be worthwhile if you can recoup a large chunk back, and worth the price if you can guarantee a new deal on the whole mortgage (based on today’s low rates) rather than having to review 2 differing sub accounts in future at differing times, that may come with product fees for rates which are possibly going to be higher. There are a lot of ifs and buts, but you have to apply some common sense and think about what you are most comfortable with.