Can I repay my mortgage early without a fee?
Yes — and since April 2024, every single month. The fee for early repayment of a housing loan is capped by law at 1% of the sum repaid early, and the bank may include in it only the costs it genuinely incurred. There are two situations in which you pay nothing at all. The first is the end of the fixation of the interest rate — at that point you may repay the whole balance free of charge. The second comes from the April 2024 amendment: you may make an extraordinary payment every calendar month, provided their total over the calendar year does not exceed 30% of the principal. In practice this means you can chip away at the loan continuously, rather than once a year as before.
📋 The rules
- The fee is capped by law at 1% of the sum repaid early
- It may cover only the bank's genuine costs
- At the end of the fixation: repayment is free
- Since April 2024: an overpayment every month
- Total of up to 30% of the principal a calendar year
🔓 Exceptions
- Above 30% of principal a year the bank may charge its fee of up to 1%
- The request must be made in advance; the bank has a period to calculate the sum
- Withdrawing from the contract and repaying early are two different things
⚠️ Penalties & fines
The commonest mistake is sending the money without telling the bank. An extraordinary payment must be notified — otherwise the sum can simply sit on the account as an overpayment and reduce the principal not at all. It is also worth knowing that 30% is a ceiling for the year, not per payment: exceed it and the bank may charge its fee of up to 1% on the excess. And mind the two distinct concepts: withdrawal within 14 days and early repayment are not the same thing — the first cancels the contract, the second merely shortens it. Before deciding, ask the bank for a written calculation of both the balance and the fee.
📎 Official sources
❓ Frequently asked
How much may the bank charge?
At most 1% of the sum repaid early, and only up to the costs it genuinely incurred in connection with the repayment. A higher fee is not permitted by law, even if the contract purports to set one.
When is repayment entirely free?
At the end of the interest-rate fixation, when the whole balance can be repaid free of charge. And, since April 2024, through extraordinary payments every calendar month, provided their annual total stays under 30% of the principal.
What does the 30% limit mean?
It is the ceiling on the total of all free extraordinary payments in a single calendar year, calculated from the principal of the loan. Above that line the bank may charge its fee of up to 1% on the excess.
Must I notify the payment in advance?
Yes, and forgetting to is the commonest error. Money sent without notice can sit on the account as an overpayment and reduce the principal not at all. Ask the bank for a written calculation of the balance and any fee.
Is this the same as withdrawing from the contract?
No. Withdrawal within 14 days cancels the contract from the outset; early repayment merely shortens it, discharging your debt sooner. They are separate institutions with different time limits and different consequences.
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