Question:

Joe seeks to purchase a Torrens Title property to live in and requires a mortgage to finance the purchase. He approaches Big Bank for a loan. Big Bank approves of a mortgage with a 30 year loan term and issues loan documents for Joe to sign. As part of these documents is the loan contract. When Joe reads the contract closely, he notices that there is no clause which allows him to repay the loan early. Joe wants to be able to repay the loan as he has been told that he is going to inherit enough money to repay the loan from his ailing 98-year-old grandfather.

Can Joe repay the loan early? If he can, what would have to repay (Anwser with authorities)?