When charges don't applyEarly repayment charges do not apply if:
- The borrower moves house and transfers their mortgage to the new property. Terms and conditions apply.
- The last surviving borrower dies.
- The last surviving borrower moves permanently into long term care.
- The total debt is reduced or fully repaid using the money from an insurance company following damage to the property.
- A borrower (on a joint mortgage) passes away or moves into long term care and a repayment is made within 3 years of the date of death or move.
- The borrower chooses to make unlimited repayments of minimum £50 totalling up to 10% of total advances each year.
- In the unlikely event the remaining reserve is removed and the loan is repaid in full.
- Downsize protection is included in the policy for full repayment from year 5 onwards. Terms and conditions apply.