Can I calculate my own Early Repayment Adjustment (ERA)?
The amount of your ERA cost is calculated based on factors including your current loan balance, how much you want to repay, changes in interest rates and the time left in your current fixed interest rate period.
Calculating the cost of an ERA is a complicated calculation and is not the same for everyone. There are many factors that are taken into consideration when working out an ERA cost therefore we recommend you contact us for a quote before repaying your loan early or switching interest rates.
You’ll find more information on the procedure for calculating the cost of an ERA in your general loan terms and conditions.
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