Mortgage Early Redemption Charge Waiver

Tax Planning and Financial

Hi fellow landlords,

I am selling up a BTL and buyer wants to complete later this month which is only 6 weeks before my early redemption charge (ERC) expires (on a 5 year fixed deal). I gather they want to save any stamp duty before 30 Sept 21. The property is relatively 'low value' @ £110k. My ERC (c. £3k) expires on 1 Oct 21 and I was hopeful before this that completion is going to be in Oct given the average sale usually takes 8-10 weeks and how long they've had to wait for mortgage approval, not to mention the recent backlog.

I was browsing a few fora on moneysaving expert and saw a post suggesting that if there are only a couple of months left on the a fixed mortgage deal, some lender may waive the ERC charge for a borrower. Another poster suggested also writing to the ombudsman.

Have any of you been successful in getting this waived? What was your lender and if you wouldn't mind sharing how you put forward a compelling appeal? I have not missed any payments and the property made a loss year on year (hence I had to force its sale).

Many thanks in advance for any advice.