We offer different types of mortgages with different rates. With some of these there may be a charge if you repay all or part of your mortgage within a certain period of time - we call these early repayment charges.
Your offer letter gives details of any early repayment charges (ERC) that apply to you.
If an ERC is payable, we will deduct it from the amount of your overpayment.
If an early repayment charge doesn’t apply then you can overpay as much as you like (without paying off your mortgage in full) without being charged.
You can check which type of mortgage you have within Online Banking or our Mobile Banking app.
At the moment we allow you to overpay up to 10% of the amount you owed at the 1st January within that calendar year, without having to pay an early repayment charge.
For example, If your mortgage balance was £100,000 on the 1st January, you could over pay £10,000 (i.e. 10% of £100,000) that year without being charged any fees.
If the total amount you overpay during the year goes above 10%, we’ll only charge you an early repayment charge on the amount you overpay above 10%.