Banky team Reviewed editorial answerEarly repayment of your mortgage may be available depending on the contract and program, but you must request an official settlement number from the lender by a specific date.
Key points
This number may include the principal amount and any applicable early repayment fees or charges.
Compare the cost of closing now with the future profits or interest you will save, and after repayment, ensure that any guarantees or mortgages are released and a clearance certificate is obtained.
The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.