Owning your own home

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stevo_com

Halifax's website says "If the total amount you overpay during the year exceeds 10%, we'll only charge you an early repayment charge on the proportion you overpay above 10%."

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aggi in reply to @stevo_com

I've just redeemed my mortgage with Halifax, they charged me the early repayment amount on the full balance. (It didn't occur to me about there potentially being a permitted element of 10% even though I was permitted to overpay by that amount.)

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stevo_com in reply to @aggi

Trying to google for the scenario but not getting anything. I'm sure it is just a case of them saying, "nah, ERC on the full balance" but I'm wondering why nobody else seems to have thought of this. Am I peculiar? Does it make sense to anyone else?

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