Mortgage Express is to waive all early repayment charges (ERCs) as of 1 February.
The exemption covers borrowers with both Bradford & Bingley and Mortgage Express deals. All customers whose products carry ERCs – including those on all relevant residential, buy to let and lifetime mortgages – will be contacted by the middle of January with news of the waiver.
Mortgage Express is offering the waiver to help customers making a capital repayment on their loan, those who wish to remortgage to a better deal and those who may wish to sell an underperforming property.
The lender formerly waived ERCs between February and June 2009, to the benefit of many customers.
The latest move comes as part of the nationalised lender’s long-term objective to wind down Mortgage Express.
