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Is 5% an unreasonable early repayment fee?
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5% is reasonable and fairly common.
We are with NRAM and for the first 5 years of our fix the ERC was 5%, for the 2nd five years it is 4%.
It is quite unlikely that you will get a fix of 5 or 7 years at a rate less than what you are on now, you might get one for slightly higher eg 4.99%. You'll have to weigh up whether you want to pay ERC/setup fees now for a couple of years extra certainty, or stick with what you have got for a while longer._____________________________________________Mortgage 1 £80k paid off july 2014Mortgage 2 £213k paid off May 20210
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