An early repayment charge (ERC) is a penalty your provider may charge if you overpay on your mortgage by more than they allow, or pay off the whole loan too early.
Sometimes securing a new deal with your current lender may mean they’re willing to forgo the ERC on your current mortgage, but not always.
It’s worth speaking to an adviser to discuss your options because ERCS don’t always mean there’s’ nothing more you can do until the end of your current agreement.
Give us a call or an email for a friendly chat with a member of our team today.
YOUR HOME (OR PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.
A FEE MAY BE CHARGED FOR MORTGAGE ADVICE.
THE EXACT AMOUNT WILL DEPEND ON YOUR CIRCUMSTANCES.
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