Switching to repayment over your existing term
You could convert all or part of your mortgage to repayment, so you pay off both the interest and the capital. This will 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 0330 159 7152. Our phone lines are open Monday to Friday 8:00am – 8:00pm.
Important things to consider:
- The shorter the term remaining on your mortgage, the more your payments will increase by.
- As long as you make all your monthly payments, having a repayment mortgage means that your mortgage will be paid off in full at the end of the term.
Switching to repayment and extending your term
You could convert all or part of your mortgage to repayment and extend your term, so you pay off both the interest and the capital. This will increase your monthly payments and spread them over a longer period, 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 0330 159 7152. Our phone lines are open Monday to Friday 8:00am – 8:00pm.
Important things to consider:
- How much you can extend the term by will depend on your age.
- Spreading your payments over a longer term will result in you paying more interest.
- As long as you make all your monthly payments, having a repayment mortgage means that your mortgage will be paid off in full at the end of the term.