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Ways we can help
You could convert all or part of your mortgage to repayment over your remaining term or (depending on your circumstances) a longer term. This means you would pay back both capital and the interest at the same time. This would increase your monthly payments, so you’d need to speak to one of our qualified mortgage advisors to make sure that it’s affordable. You can make an appointment by calling us on 0330 159 7152. Phone lines are open Monday to Friday 8:00am – 8:00pm.
Important things to consider:
- The shorter the term remaining on your mortgage, the higher your monthly payment. You need to make sure you’ll be able to keep up the higher monthly payments.
- How much you can extend your term by will depend on factors such as your income, age and your chosen retirement date.
- Spreading your payments over a longer term will result in you paying more interest.
- On a repayment mortgage, as long as you make all your monthly payments, your mortgage will be paid off in full at the end of the term.