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Early Repayment Charge
tesuhoha
Posts: 17,971 Forumite
We have a repayment tracker mortgage with Nationwide. We owe approximately £39,000. If we paid say £28,000 off this in a lump sum can anyone advise me approximately how much the ERC will be. I have looked on the Nationwide website but no details of charges are given.
Many thanks
Many thanks
The forest would be very silent if no birds sang except for the birds that sang the best
0
Comments
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It depends on what the details in your Key Facts document says. If you don't have it, make a phone call.
Nationwide will have literally hundreds of different mortgage products with different ERC clauses, so it's impossible to get an accurate reply from a forum.
If your actual rate is below around 2% then you may be better off saving than reducing debt.0
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