Mortgage early repayment charges - Halifax

[cocogoloco]

Hello.

Looking for some real talk advise please :)

We currently have a mortgage with Halifax, we actually have 2 products as we added to it last year to do some work.

We are now moving and reducing our mortgage from 190k to 80k & looking to port over some of both products.

Our issue is product 1 ends Sep 2022; roughly around when we hope we will be moving...and they apparently have the right to charge the ERC right up until the last day of Sept, even if we complete 1 week before etc. Which is really frustrating as we want to really push this thru for August for schools etc

For a complete noob; is there anyway we can get around the ERC considering it's so close to the end? Would speaking to an Independent MA possibly be helpful or do we apply more pressure to Halifax themselves?

Sorry for waffling and will understand if the answer is just swallow the cost :)

Thanks

Can you port both products completely? Or does that start another time period before you can repay early?

Sometimes its worth paying the early charge just to get rid of the mortgage -we've done it when re-mortgaging in the past.

Just port both mortgages and keep some of the equity. When the charge isn’t payable (September) pay off a lump sum and renegotiate better terms?

if I’ve understood correctly?

ITs always worth getting advice but what @Softpebbles says makes sense- just keep the cash and pay it off in Oct?

Need to check if this is possible, but if you are talking of a week could you not repay everything except £50. Then pay the £50 at the end of the term.

We moved 2 weeks before passing the next ‘full year’ date which would have reduced our Eric by another percent, buyers wouldn’t delay the completion so we had to pay back the 4% charge instead of 3% - was so annoying. Halifax were very ‘nothing we can do’ about it

I was caught about 3 weeks short once several years ago and I made a complaint offering to pay the interest due until the end of the fixed period which was accepted. Otherwise it would have delayed completion.