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Early repayment charges are payable if you repay the mortgage loan or switch to another product before the end of the initial interest rate. They are based on a percentage of the amount that you repay or switch. Early repayment charges will also apply if you exceed your 10% overpayment allowance.
Early repayment charges do not apply after expiry of the fixed rate period, at which point the mortgage will move onto Generation Home’s standard variable rate (SVR) or a BoE Base Rate Tracker.
Unlimited overpayments can be made whilst the mortgage on either the SVR or Tracker rate.