Ask how the lender calculated the number.
The applicable method can depend on the mortgage terms, balance, remaining time, and lender calculation. Request the written figure and confirm how long it remains valid.
Decision Tool · Mortgage penalty
Understand the cost of leaving a mortgage early.
A penalty is one input in a larger decision. Compare the lender calculation, transaction costs, replacement structure, and the reason for changing before acting.
Knowledge base · Key considerations
A penalty decision needs a reason and a timeline.
Compare the cost of breaking the term with the benefit expected from the new structure. Include fees, timing, flexibility, and the possibility that waiting changes the answer.