Can I calculate my own Early Repayment Adjustment (ERA)?
Last Updated: 18 Dec 2015
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.
Did this answer your question?
Related Answers
-
Due to the Reserve Bank of New Zealand’s (RBNZ’s) loan-to-value ratio (LVR) restrictions, loans for residential investment properties generally have ...
-
If you are linked to a Company/Trust, you are allowed to manage its facilities. If you are unable to view ...
-
Property information has been sourced from CoreLogic NZ Ltd. The estimated value is not an accurate representation of the market ...
-
There are advantages and disadvantages to all of these options and you need to consider your personal circumstances when deciding. ...
-
The simple way to pay off your loan is through your Solicitor. Your Solicitor will request a repayment figure and ...
-
A loan statement is not currently available to view in FastNet Classic internet banking. To request a loan statement: Send ...
-
The best home loan strategy is one that takes into account your individual circumstances, like your cash flow. Does your ...
-
To change your home loan payment, go in to the Manage Repayment function from the Home Central hub page. From ...
-
Home Central is a place for you to manage your home loan with FastNet Classic internet banking and the ASB ...
-
If you’re looking for ways to pay off your fixed interest rate loan faster, there is some flexibility to do ...
-
To reverse a change you've made in Home Central please call us on 0800 100 600 weekdays 8:00am - 8:00pm ...
