Mortgage lenders make the majority of their profit through the interest rates they charge over time. If you pay the mortgage back early, they will not receive the same level of income from your mortgage. As a result, you’ll be charged an early repayment fee. Not all mortgage deals are subject to a repayment charge, but if they are, then you’ll need to pay between 1% and 3% on the total value of the loan. For example, if your mortgage was £100,000 then your fee would be between £1,000 and £3,000. You may also be asked to return any incentives or cashback offers if applicable.