Early repayment charge on Woolwich mortgage

lydriver

On their website it says....£80 plus 3% of the balance repaid until 31 December '17

So would that mean that if you wanted to sell the house/repay 6 months in to the mortgage then the ERC would only be £80 plus 3% of the 6 monthly payments made?
If so that's a huge difference compared to others that state 1% or 2% of the balance

Typhoon2000

It would be £80 and 3% of what's left on your martgage to be repaid (balance) when you sell.

TrickyDicky101

You will repay the balance outstanding when you settle early - so it will be 3% of this balance that is repaid.

dunstonh

Balance repaid means the amount you are paying off the balance.

So, if you made an overpayment of £20,000 then they would charge you 3% of that overpayment.

if you repaid the mortgage in full then it would be 3% of the amount you paid.