Common use of REPAYMENT OF THE OUTSTANDING BALANCE Clause in Contracts

REPAYMENT OF THE OUTSTANDING BALANCE. 6.1 If you repay all or part of the Outstanding Balance before the relevant repayment becomes due then this will be treated as an early repayment. You can repay your mortgage early, at any time, but you may have to pay an Early Repayment Charge as described in clauses 7 and 8. 6.2 You may not take any payment holidays or redraw any amounts repaid.