Mortgage Calculators

Early Repayment Charge Calculator

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Mortgage Calculators Early Repayment Charge Calculator

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Early Repayment Charge Calculator

Work out how much your early repayment charge (ERC) would be if you pay off your mortgage early or overpay beyond your annual allowance.
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Enter the full balance to calculate a full early redemption, or a smaller amount for an overpayment.
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Breakdown
Outstanding Balance
Annual Overpayment Allowance ()
Amount You Want to Pay Off
ERC ( on excess)
ERCs typically apply during a fixed or introductory rate period. Once your deal ends and you move to the lender's SVR, there is usually no ERC. Check your mortgage offer documents for the exact terms.

What is an ERC? An Early Repayment Charge is a fee your lender charges if you pay off your mortgage early or overpay beyond your annual allowance during a fixed or introductory rate period.

How it's calculated: We take the amount you want to pay off, subtract your annual overpayment allowance, and apply the ERC percentage to the excess. If your payment is within the allowance, no charge applies.

Full redemption: If you're paying off the entire mortgage, the ERC is calculated on the full balance minus the allowance.

These figures are estimates based on the details you've provided. Always check your mortgage offer for the exact ERC terms, as some lenders calculate charges differently.

Thinking about switching your mortgage?

A mortgage broker can help you weigh up whether paying the ERC is worth it, or find you a better deal once your current rate ends.

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

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