Early Repayment Charge Calculator

Estimate the early repayment charge you could pay if your overpayments go over your lender’s yearly allowance.

No email required. UK focused. Estimates only.

Work out your estimate

Include any lump sum and regular overpayments together

Often 10% of the balance, but check your mortgage offer

Enter the percentage from your mortgage offer. The 3% shown is only an example, and charges vary by lender and deal

This is a worked example: a £200,000 balance, a 10% allowance, £25,000 of overpayments and a 3% charge. Change the figures to use your own.

Estimated early repayment charge: £150

This is the charge on the £5,000 above your allowance at 3%, about 0.6% of the £25,000 you plan to overpay. Your lender may calculate it differently.

Your allowance (10% of £200,000)
£20,000
Overpayments already made this year
£0
Overpayments you plan to make
£25,000
Total overpayments this mortgage year
£25,000
Allowance left before these overpayments
£20,000
Amount over your allowance
£5,000
Estimated charge at 3%
£150
  • Results are estimates only and do not constitute financial advice. Actual charges will vary.
  • Your home may be repossessed if you do not keep up repayments on your mortgage.

This calculator does not know your lender’s terms. Check your lender’s terms before overpaying, as early repayment charges may apply. If you are unsure, consider speaking to a regulated mortgage adviser.

How this estimate works

  • Your allowance is your balance at the start of the mortgage year multiplied by your lender’s yearly allowance percentage.
  • Regular overpayments and lump sums count towards the same allowance, together with anything you have already overpaid this mortgage year.
  • The estimate applies the charge percentage to the amount above your allowance. Some lenders calculate it differently, for example on the whole amount repaid early, so check your mortgage offer.
  • Most lenders measure the allowance from the balance at the start of your mortgage year, but some use the original loan amount.
  • Charges often fall as a deal nears its end, and may not apply once it ends. Use the percentage that applies to you today.
  • Other fees, such as exit or administration fees, are not included.
  • Repaying the whole mortgage, or leaving a deal early, is different from overpaying, and is not covered by this estimate.

Is paying an early repayment charge ever worth it?

Sometimes the interest an overpayment could save is more than the charge, but it depends on your rate, how long is left on your deal and the size of the charge. Work out the charge here, then use the free mortgage overpayment calculator to estimate the interest an overpayment could save, and compare the two before you decide. If you are unsure, consider speaking to a regulated mortgage adviser.

What is an early repayment charge?

An early repayment charge (ERC) is a fee a lender may charge if you repay more than your allowance during a fixed or discounted rate period. Our guides explain the detail: what is an early repayment charge?, is it worth paying one?, the UK mortgage overpayment cap, overpaying during a fixed rate and can you overpay a fixed-rate mortgage?

What some lenders say

We summarise what some lenders publish about their overpayment allowances and charges, with their own wording and the date we checked: Nationwide, NatWest, Halifax, Santander, HSBC UK, TSB, Virgin Money, Yorkshire Building Society, Skipton Building Society, Barclays and Lloyds Bank. Your own mortgage offer is what applies to you.

Questions people ask

Do all mortgages have early repayment charges?
No. Many fixed and discounted-rate deals have them, and some other deals do too, while many lenders remove them once the deal period ends. Your mortgage offer says whether one applies to you.

How much is an early repayment charge?
It varies by lender and deal. It is often a percentage of the amount you repay early, and it can be higher earlier in a deal and lower as the deal nears its end. Your mortgage offer states it.

Can I overpay without an early repayment charge?
Many lenders let you overpay up to a yearly allowance, often 10% of the balance, without a charge, but this varies. Check your mortgage offer or ask your lender. See the UK mortgage overpayment cap.