Which lenders offer mortgages without early repayment charges?

Page updated 12/02/2026.

Mortgages without Early Repayment Charges

A range of banks and building societies offer flexible mortgages to borrowers without exit fees, or, as they are more commonly known, early repayment charges.

Most lenders offering mortgages without early repayment charges issue them as either Bank of England tracker rates or discounted variable deals. The vast majority of borrowers opt for two-, three-, and five-year fixes, but these rates nearly always come with fees for early repayment. 

Mortgages without exit fees are often popular with people unsure about their immediate plans. They may not want to lock into a product that will be expensive to exit for a range of reasons. They may be struggling with their partner and considering their options, or they may want to move up the property ladder, undertake major renovations, sell their home, or make a lump-sum overpayment.

Which lenders offer mortgages with no early repayment charges?

HSBC for Intermediaries, Barclays, TSB, Skipton Building Society, and Nationwide for Intermediaries are among the largest lenders offering mortgages without early repayment charges. Some private banks and building societies also offer no-exit-fee mortgages.

Lenders offering no early repayment charges	Type of rate without early repayment charges
HSBC for Intermediaries	The bank offers a range of competitively priced Bank of England two-year trackers with no early-repayment charges.
Barclays for Intermediaries	The bank offers a range of competitively priced Bank of England two-year trackers with no early-repayment charges.
Nationwide for Intermediaries	The bank offers a range of competitively priced Bank of England two-year trackers with no early-repayment charges.
Skipton Building Society	The building society offers Bank of England two-year trackers with no early-repayment charges.
The Co-Operative Bank for Intermediaries	The lender offers a lifetime tracker rate with no early-repayment charges.
Halifax for Intermediaires	The bank offers a range of short-term trackers with no early-repayment charges.
Clydesdale Bank	The bank has discounted variable rates without early-repayment charges.
UTB Bank	The lender offers a five-year fixed rate with no early-repayment charges.

 

How much do mortgages without early repayments cost?

Some of the most competitively priced flexible mortgages are priced between 0.11% and 0.5% over the current 3.75% Bank of England base rate. The lenders typically charge arrangement fees between £999 and £1,999, depending on the mortgage amount. The most competitive price rate Trinity's brokers can access is currently just over 3.85% for borrowers with larger deposits and a clear credit history. 

Is it worth paying a standard variable rate for the flexibility?

Once a fixed or tracker mortgage rate ends, it usually reverts to the lender's standard variable rate. These reversion rates typically do not have charges for repaying the mortgage, but the rates are generally very high. For example, Halifax’s current standard variable rate is 7.24%, and Nationwide Building Society’s is 6.49%.

If you are unsure whether you should take a fixed deal and plan to take your lender's standard variable rate, it is worth noting that there are competitively priced flexible mortgages available. It may make sense to remortgage with a different lender if your existing lender does not offer variable rates or low early-repayment-fee options.

What is the benefit of taking a mortgage with no early repayment charges?

Mortgages without tie-ins give borrowers flexibility. They allow homeowners to sell their property, refinance to raise funds for home improvements or switch to more suitable products when they are available. They also enable people to make lump-sum overpayments on their mortgages without being capped at the standard 10% limit. 

Aaron Strutt, product director at Trinity Financial, says: "Many borrowers tend to opt for the cheapest mortgage without considering all of their options or talking through their decisions with their partner or family. They also do not thoroughly research the market to ensure they get the most suitable deal.

"Flexible mortgages are not suitable for everyone, but they are an option more borrowers should consider. Some lenders offer switch-to-fix facilities where it is possible to take a tracker rate and then lock into a fixed deal, which provides more flexibility with the option of payment security."

How much is a typical early repayment charge?

Charges vary from lender to lender. It tends to be tracker-rate mortgages, which do not have exit fees.

Barclay recently lowered the percentage it charges borrowers for early mortgage repayments, which is unusual. Nationwide charges 5% of the loan amount for the first two years on its five-year fixes and 7% on its ten-year fixes, although these charges reduce yearly. In comparison, Barclays charges 2% of the loan amount on its five-year fixes and a flat 5% exit fee on its ten-year fixes.

Do lenders offer existing borrowers trackers without early repayment charge products?

Many banks and building societies do not offer existing customer mortgages without early repayment charges apart from the standard variable rate. 

Lenders tend to have different rates for new customers buying a home or remortgaging or existing customers coming to the end of their deal. 

Just because a lender is not offering its customers a tracker or flexible mortgage without tie-ins does not mean they aren't available through other banks or building societies.

Are there flexible or offset mortgages?

Accord Mortgages, Barclays, Clydesdale, Coventry for Intermediaries, Coutts, and Handelsbanken are among the most prominent players in the flexible and offset mortgage market. 

Offset mortgages allow borrowers to make lump-sum overpayments and withdraw the funds later. This means the amount of interest they pay is reduced.  

Some offset mortgage lenders allow customers to repay 99% of the mortgage without charge.

Call Trinity Financial on 020 7016 0790 to secure a mortgage, book a consultation, or complete our mortgage questionnaire. 

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage