Mortgages

Overpayments

With a flexible mortgage you can make extra payments whenever you can. Just paying a few pounds extra each month will mean you pay off your mortgage earlier.

Just think you could save thousands of pounds in mortgage interest.

Borrowing more in the future

When you take out your mortgage, we normally lend you what you need to buy your home. But what if you need extra money after?

With a flexible mortgage we may be able to agree a higher limit with you to a maximum of 90% of the purchase price or valuation whichever is lower.

Once we've agreed a limit you're free to borrow up to this amount any time during your mortgage term. The terms and conditions will explain more about this.

Underpayments and payment holidays

After you've had your mortgage for 6 months, you can start to benefit from the full power of a flexible mortgage. Need a break from repayments? Arrange to reduce or miss up to 6 monthly payments in any one year up to a maximum of 18 months during the life of your mortgage. During a period of underpayments or a payment holiday, interest will continue to accrue on the whole debt.

After you have exercised any Flexible feature (underpayments, payment holidays or if you borrow some additional money), we will always recalculate your monthly payments on the basis of the agreed mortgage term. If you don't want your payments to increase you can contact us and ask to increase the term of your mortgage.