What is the penalty from changing from fixed to variable?

[Bob the slob]

I want to change from a fixed to a variable rate.

Current rate is 5.2 on a 3 year fixed with just over a year left with EBS.

What would the penalty be?

 

[NorfBank]

Only EBS can tell you.

 

[Bob the slob]

Ok thanks. Are they usually exorbitant penalties though?

 

[CCOVICH]

At least one person thinks so.

I'm afraid I have no idea whether the 2 cases are comparable.