Early repayment charge (ERC)
Updated UK · illustrative onlyNot a lender or brokerAboutDisclaimer
RLPublished by Rodway Labs — not a mortgage adviser
Published
An early repayment charge is a fee some lenders charge if you repay some or all of a mortgage during a deal period (for example during a fixed rate). It is often calculated as a percentage of the balance or as months of interest. Many deals also allow a yearly overpayment allowance before ERC applies.
Estimate common methods with our ERC estimator. Always check your mortgage offer for the exact wording.
Related
Calculators and articles on Remortgage Lab are illustrative and not personalised financial advice. Always check current lender terms and, where appropriate, speak to an FCA-authorised adviser. England & Northern Ireland focus where tax rules are cited; Scotland and Wales differ.