Fixed Rate Loan only
2.2 Where the Customer wishes to discharge (whether partially or in full) his obligation to the Bank, he may do so on giving 30 days notice in writing to the Bank (or such lesser period as may be agreed to by the Bank). At the time of such discharge, a reduction in the total cost of credit shall be allowed in accordance with any formula used by the Bank and approved pursuant to Section 52 Consumer Credit Act,1995 (or any amendment or substitution therefor).
2.3 In the absence of the formula referred to at clause 2.2 above or, in the event of the application of the formula not making good to the Bank the costs associated with any early discharge or partial repayment(s), the Customer shall pay to the Bank a sum in respect of interest equal to the amount as calculated by the Bank of all losses, costs and expenses incurred by the Bank associated with such early discharge, partial repayment(s) or conversion.