-
I assume the issue is potentially that you would have to make the payment in two tranches (one overpayment and one early redemption with the overpayment possibly being at an earlier date to differentiate it) and a lot of people don't have the spare cash to make a 10% overpayment at an earlier date, particularly if they're also paying a deposit on a property they are buying.
aggi-
We have the cash, it would just mean a whole rejigging of what £ sits where. It would lower the cash part of the deposit, but would also lower the amount of mortgage needing to be repaid, which would mean we'd still have the same amount to put into the new purchase (actually, we'd have £600 more WHICH IS THE FUCKING POINT, HALIFAX!!!). If I controlled all the ones and zeros, I'd do it, but I don't trust the admins at Halifax + Adam Bank + Mortgage Broker + Solicitor to sing from the same shifting hymn sheet so won't rock the boat any further.
stevo_com
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?