Flexibility

Whichever mortgage you choose, you can:

• pay a regular extra amount every month on top of your normal mortgage payment,
• pay any extra amount whenever you want,
• repay your mortgage early,
• in certain circumstances pay less than the amount due or even nothing at all some months.

If you're thinking of varying the amount you pay, please check your mortgage details
You may have to pay an Early Repayment Charge if you repay more than 10% of your mortgage balance each year.

Find out more

How can I make extra payments?
Whichever mortgage you choose, you can make one-off or regular extra payments to reduce your capital balance and therefore pay less interest in total.

See how to make extra payments.

What happens if I make extra payments?

If you make one-off, lump sum payments, you can either:

• reduce the term of your mortgage and your monthly payments will stay the same (repayment loans only), or,
• reduce your future monthly payments and leave your mortgage term unchanged (repayment and interest-only loans).

There is a small charge if you want either of these to be done straightaway - see our charges.

If you want to pay a bit more each month (make a regular overpayment), you can either:

• talk to us first and we'll shorten your mortgage term which will make your monthly payments higher so you repay your mortgage sooner than originally planned (repayment mortgages only - there is a fee for this service); or
• decide on a fixed amount extra to pay every month, leaving the term as it is, which will result in your future monthly payments being reduced.

So, if you make an overpayment and you want to achieve a particular result, please talk to us so we can explain what will happen and, where possible, give you the result you want.

Whichever way you decide to make extra payments you’ll usually end up paying less interest overall. It is important to remember that any extra payments cannot normally be refunded at a later date.

How do I pay less than is due?
In certain circumstances, and if your mortgage is up-to-date, you can pay less than the full monthly mortgage payment that is due, or even suspend your payments for a short time. If you would like to discuss this, please contact your local branch  or phone the Helpline on 0845 603 1637 8.30am to 9pm Monday to Friday, or 8.30am to 1pm on Saturday.

• Take a Payment Holiday
  If you’ve been making regular overpayments, you can take a Payment Holiday. There is no charge for this service.
• Take an Instalment Break
  After 12 monthly payments, even if you haven’t been making regular overpayments, you may be able to suspend your payments. If we agree to this, you’ll need to pay a charge.

What happens if I pay less than is due?
Just as making extra payments reduces your mortgage balance, underpaying will make it go back up again.

You also need to be aware that the fact that you are not making your full monthly payment may be picked up by credit rating agencies and may affect any borrowing you apply for elsewhere in the future.

Please remember that underpaying and taking a payment holiday can continue for only a short period, agreed by us, and you must start paying again at the end of the period.

If you would like to talk to us about taking a break, please talk to your local branch  first or call the Helpline on 0845 603 1637 8.30am to 9pm Monday to Friday, or 8.30am to 1pm on Saturday.

Can I stop making payments?
The ultimate underpayment is not making your normal monthly payment at all - taking a payment holiday.

Remember that a payment holiday is only a break from paying your mortgage - you must start paying again at the end of the period. If you don't keep your mortgage up to date, you could fall into arrears and ultimately lose your home.

Financial difficulty
If something in your life is changing and it could make paying your mortgage difficult, please call into your local branch or phone us as soon as you can. It's always best to speak to us before missing a payment rather than afterwards. Dealing with financial difficulties at an early stage usually makes problems easier to solve.

If you're having trouble paying your mortgage, help could be available. Find out more.

View details of our mortgage payment protection insurance