Early repayment charge estimator
Last checked UK · illustrative onlyNot a lender or brokerAboutDisclaimer
RLPublished by Rodway Labs — not a mortgage adviser
Estimate an ERC using a percentage of balance or N months’ interest. Always read your mortgage offer — lenders use different (and sometimes stepped) methods.
Methodology & assumptions · Last checked
Your inputs
Starter figures are UK examples you can edit — replace them with your balance, rate, term and fees. Results update as you type.
Results
Method
2% of redeemed balance
Amount assessed
£200,000.00
Estimated ERC
£4,000.00
Effective % of full balance
2.00%
Illustrative only — not personalised financial advice and not an FCA-regulated mortgage recommendation. Check your offer, Key Facts Illustration, and lender terms. Rates, fees and tax rules change. Focus is England & Northern Ireland where tax/SDLT rules apply; Scotland and Wales have different property tax regimes. Full calculator disclaimer.
What to do next
Methodology, equations & assumptions
Last checked . Figures are illustrative; tax and product rules can change. England & NI focus for SDLT-related tools — Scotland (LBTT) and Wales (LTT) differ.
% method: ERC = redeemed amount × (percent ÷ 100). Interest method: ERC ≈ (annual rate ÷ 12) × full balance × months, scaled by redeemed ÷ balance for partials.
- Does not cover all stepped schedules, deed quirks, or cashback clawback.
- Interest method uses your entered current rate on the full balance before scaling.
Notes & FAQs
- What about stepped ERCs?
- Many deals charge a higher % in year 1 and less later. Enter the % that applies now, or run the estimator once per step.
- Partial redemptions
- Enter the amount you plan to repay early. The estimate scales the ERC to that portion for simple %-of-balance and interest methods.