Mortgage Early redemption fees

[newbee]

I have 2 years left on a fixed rate mortgage. Can a pay off most of the mortgage (leaving say �500) to pay off over the 2 years, and avoid the early redemption fee?

[sandmaster]

You need to check your agreement. Some lenders will allow increased repayments or lump sum reductions, but not all.

[factor-fiction]

My mortgage company only allows me to repay 10% of the capital each year without penalty. Any repayments over that are subject to a fee (I think it's 2% of the amount repaid).