Paying off or switching your mortgage to a new deal or rate before the end of the agreement period can incur an ‘early repayment charge’. These ERCs are usually a percentage of the remaining mortgage amount and can cost thousands, therefore it is important to understand and weigh up the benefits of doing so.
The early repayment cost calculator below provides you a guide on how much it could cost to leave your agreement earlier than intended.
The team at L&C believe that buying a home should be fun and remortgaging should be simple.
Finding the right mortgage and moving house can feel both time-consuming and daunting. Especially when there are so many options and decisions to be made. That’s why L&C do all the hard work for you. They’ll search for great deals across the market, and as the UK’s leading fee free mortgage broker, they won’t charge you a penny. Get in touch with one of their expert advisers and find the right mortgage for you.
Discover how much you could borrow using our simple calculator.
Discover how much your monthly mortgage costs could be with our easy to use tool.
Discover how much stamp duty tax you will have to pay when buying a property.
Discover the impact an increase or decrease in interest rates can have on your mortgage repayments.
Discover how mortgage overpayments may reduce interest costs and save you money on your mortgage payments.
Discover how much it will cost to exit a mortgage agreement early.
The House Network Mortgage Service is provided by London & Country Mortgages (L&C), Beazer House, Lower Bristol Road, Bath, BA23BA, London & Country are authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage.