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Most mortgage lenders will charge a fee for paying off your mortgage early, this is known as an early repayment charge. Early repayment charges usually decrease over the term of the product and in some cases are not applied at all. The key facts illustration provided to you by your advisor will detail the charges applied to your mortgage.
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The monthly payment shown is intended as a guide only. The actual amount you will have to pay each month could be more or less than this figure. Please note repayment of an interest only mortgage is the repayment of interest only. The cost of repayment of the amount borrowed would need to be added.