Initial fees

Extra service fees

Changes to your mortgage

Payment difficulties

Ending your mortgage

Ending your mortgage

When you end your mortgage term early, either by switching to a new deal or paying off your mortgage ahead of schedule, you may need to pay a fee.

Name of fee Early repayment charge (ending your mortgage)
What the fee is for You may be charged this if:
  • you pay off your mortgage before your current deal ends (for example. by moving to another lender)
  • you make an overpayment that's higher than your product overpayment allowance (for example by making increased regular payments, or paying off a lump sum)
  • you switch to a new Nationwide product before your deal ends (unless this switch is within the last three months of your current deal)
  • you take only part of your existing Nationwide mortgage with you to a new property (partial port)
  • you take all your existing Nationwide mortgage with you to a new property and a porting application has been accepted and an offer produced by Nationwide - but there’s a delay between the sale of your existing property and the purchase of your new one (split port).
    In this case, we’ll refund any applicable fees on completion of your new property purchase providing this is completed within the offer validity period.
    Please note if you need to change the details of your application after the sale of your property has completed, you won’t be able to port your existing mortgage product to your new property and you’ll need to choose a new mortgage product. This means any fees you’ve paid when you closed your existing account won’t be refunded.
How much is the fee? Check your key facts illustration, mortgage offer or annual statement for details about your Early Repayment Charge. Charges vary from 0-7% of the amount you overpay or what is required to close your account. For example, if you have a 5% charge then you’ll pay £50 for every £1,000 you repay.
Further information Find out more about mortgage overpayments.

Early Repayment Charges

The information below relates to mortgages reserved after 8 October 2014. For mortgages reserved before this date please refer to your mortgage offer.

Deal Term Percentage Payable
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
2 year Fixed 2% 1%          
3 year Fixed 3% 2% 1%          
4 year Fixed 4% 3% 2% 1%          
5 year Fixed 5% 4% 3% 2% 1%          
10 year Fixed 7% 7% 7% 7% 6% 5% 4% 3% 2% 1%
Name of fee Mortgage exit fee – at Nationwide we call this a mortgage exit administration fee or a redemption fee
What the fee is for You may have to pay this if:
  • you transfer your mortgage loan to another lender, or
  • you pay off your mortgage in full more than 10 years before the end of your term, or
  • when porting, there is a delay between the sale of your existing property and the purchase of your new property. In this case, we’ll refund any applicable fees on completion of your new property purchase, providing this is completed within the offer validity period.
    Please note, if you need to change the details of your application after the sale of your property has completed, you won’t be able to port your existing mortgage product to your new property and you’ll need to choose a new mortgage product. This means any fees you’ve paid when you closed your existing account won’t be refunded.
You may be charged a separate fee by your solicitor or licensed qualified conveyancer for their work relating to redemption of the mortgage and discharge of the security.
How much is the fee? £65
The charge quoted applies to mortgage contracts taken after 1 May 2005. For all other customers the fee charged will depend on the fee at the time the mortgage was entered into. Any fee that applies will be stated in your mortgage offer.
Further information Find out more about mortgage redemption.

For a full list of our mortgage charges and a description of when these apply, download our Tariff of Charges.

FAQs