Glossary Index

Mortgage terminology can be tricky to understand. Our mortgage glossary explains key terms and acronym’s that Pepper Money and other lenders use.

Early Repayment Charge (ERC)

It is a fee you might have to pay your lender if you want to end your mortgage deal before the agreed end date. Not all mortgages have an ERC, and those usually reduce the closer you get to the end of the agreement.