Making payments on your mortgage
When you take out further borrowing, you're taking out a new mortgage deal. You'll need to make payments on this mortgage, as well as on your current mortgage. Each mortgage will have its own account, and the payments will be separate.
The only payment type we currently offer is Capital repayment. This means part of your regular monthly payment goes into paying back the lump sum you borrowed, while the rest covers the cost of interest. As long as you keep up your monthly mortgage payments, your mortgage will be paid off in full by the end of your mortgage term. Other lenders may offer interest-only mortgages and part and part mortgages, which are a combination of interest-only and capital repayment. We no longer offer either of these payment types, and it's not possible to borrow more against these types of mortgages.