Flexible Payments & Early Repayment Charges

Product Fees

We only accept business through mortgage brokers. The information on this page may help to clarify certain points for you but it is not intended to replace professional advice.

Flexible Payments

Overpayment

If you make extra payments, regularly or occasionally, you will reduce the total amount of interest you have to pay. You could also reduce the term of your mortgage.

Please note that many products during the early repayment charge period have a limit on the amount that can be overpaid each year. Further details can be found in the Key Facts Illustration (KFI) and mortgage offer.

Any extra payments will immediately reduce your mortgage balance and the amount of interest charged. This can also help reduce future payments or, if you prefer, the length of time remaining on your mortgage.

Underpayments and payment holidays

By making overpayments, you can reduce your monthly payments. You can even take a payment break. The reduced or missed payments can't exceed the amount you previously overpaid.

You need to agree with us any underpayments or payment holiday you want to take. Any agreed reduction or break in your payments will increase the amount of interest we charge you. Interest continues to be charged during payment holidays.

Early Repayment Charges

You will need to pay any early repayment charges if you repay (redeem) your loan in full. These charges will also apply if you repay in excess of any overpayment limits. You may also have to pay charges if you transfer (in full or part) to a different product or to our Standard Variable Rate.

Details of how Early Repayment Charges are calculated and when they apply can be found in the KFI and mortgage offer.

If you wish to move home during the Early Repayment Charge period, the mortgage product is 'portable' and so can be moved to the new property. Subject to certain conditions, this means that all or part of the Early Repayment Charges could be refunded.

Please check our Moving Home page and your mortgage offer for more details >

If you have any questions please contact our Customer Service Team