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MRT 2 · Early Loan Repayment
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Early Loan Repayment
What ERCs are, when they apply, what porting is, and the role of a redemption statement.
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Key points
Question 3
Which term matches: "Penalty for redeeming during a fixed or tracker product period; typically 1–5% of outstanding balance"
Question 4
What does "Redemption statement" mean?
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What the exam tests
What ERCs are, when they apply, what porting is, and the role of a redemption statement.
Question 6
True or false?
What ERCs are, when they apply, what porting is, and the role of a redemption statement