Early repayment charge (ERC)
An early repayment charge (ERC) is a fee some mortgages charge if you repay early (for example by remortgaging or redeeming during a deal period).
Last verified: 16/05/2026
Definition
An early repayment charge (ERC) is a fee that can apply if you repay your mortgage early, often during an introductory deal period (such as a fixed rate). The trigger rules and the amount depend on your mortgage terms.
Practical tip
If you’re comparing switching deals, include any ERC in your “all-in” cost comparison, not just the new interest rate.
Related terms
- Arrangement fee
- SVR