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It'll be 3% against the 90% since you can make the 10% overpayment first and then request to pay off the rest early. Can't imagine any mortgage company will prevent you doing that.
Just remember that most mortgage companies take the 10% limit to be against the balance at the start of the year so if you've made overpayments already this year they'll eat in to the 10% you can pay now without charge.
I've got 8 years left and can pay 10% a year back which means I'm a long way off being able to pay it all back via overpayments (I'm on interest only), some of it will have to be done as a lump sum when it comes to renegotiation: 0.9 ^ 8 = 43%
Greenbank
I have a question out to our broker about the early repayment charge.
Currently, it is 3%. But, we are allowed to overpay by 10% each year. So, is that 3% calculated against the whole balance, or 90% of the balance, seeing as we should be able to repay 10% of it without a charge?
Would make about £580 difference. Which is not much in the grand scheme of things. But could be a room getting decorated, or a couple of appliances.