My current property has an existing mortgage with an Early Repayment Charge until next year. Is it worth paying the ERC now to remortgage and release equity for a new project, or should I wait? How do I calculate if it's financially viable?
Quick Answer
Assess the Early Repayment Charge (ERC) against the project's potential returns and immediate costs like higher interest rates or missed opportunities to determine if paying it now is financially viable.
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Learn how to financially assess paying an Early Repayment Charge to remortgage and release equity for new property projects, weighing costs against opportunities.
This question is part of our Financing & Mortgages category, providing expert guidance on UK property investment.
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