Overview

What is a mortgage term?

Your remaining mortgage term is the time you have left to repay your mortgage.  To find out your remaining mortgage term you can check online or find it on your annual mortgage statement.

You can apply to either extend or reduce your mortgage term at anytime (conditions apply).


Am I eligible to change my mortgage term?

You won't be able to apply to change your mortgage term if:

  • The property is currently being let.
  • Your mortgage was regulated by the Consumer Credit Act at the time you took it out.
  • You have an interest only mortgage.
  • You or anyone attached to the mortgage are currently experiencing difficulty maintaining financial commitments.
  • You're more than 3 months in arrears with your mortgage payments.
  • You or another named on the mortgage has been declared bankrupt and has not been discharged.
  • There's a guarantor on the mortgage.

Other things you need to know:

  • The term can't be extended past the 75th birthday of the oldest borrower.
  • The longest mortgage term we allow is 40 years.
  • If you have a leasehold property in England or Wales you’ll need to have at least:
    • 55 years remaining on your lease from the date of extending your term.
    • 30 years remaining on the lease at the end of the extended term.
  • If you have a leasehold property in Scotland or Northern Ireland you’ll need to have at least:
    • 50 years remaining on the lease at the end of the extended term.

An additional borrowing account can’t have a longer term than the term of your main mortgage account. If you wish to have a longer term you'll need to extend the term on your main mortgage.


How can I change my mortgage term?

If you'd like to change the term of your mortgage, this can be done either with advice or without advice (execution only). If you're retired or if the extended term takes you into retirement, you'll need to apply on an advised basis.

Applying with advice from us

If you'd like advice about what term is best for you, we can review your circumstances and make a recommendation.

To arrange an appointment with one of our Mortgage Consultants, call us on 0800 30 20 11, or visit us in branch.

Applying on an execution only basis

If you'd prefer to make your own choice about changing your mortgage term, you’ll be responsible for your choice of mortgage and you won’t benefit from the protection provided by our advised services. There are two ways you can apply:

Online

Select the relevant form from the options below.


The online form should only take a few minutes to complete, but make sure you've got the following information handy:


  • Your mortgage account details.
  • Your income details (salary, bonuses, pension).
  • Details of any payments you make on money you've borrowed (such as credit cards payments, personal loans).
  • Any other outgoings you have (such as monthly travel or maintenance costs, council tax, insurance, any other mortgages).

If you are extending your term you’ll only need your mortgage account details.

Extend my mortgage term

Use this form if you want to pay your mortgage over a longer term.

Reduce my mortgage term

Use this form if you want to pay your mortgage over a shorter term.

By post

Call us on 0800 30 20 11 or visit us in branch, and we'll send you a form to complete and return. Once we’ve received your completed form, we’ll begin dealing with your application and let you know if we need any other documents. When everything's complete, we'll let you know.


Find out more

Check out our FAQs for more information, or get in touch.

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If you need to speak to a member of staff, pop into any branch. Use our branch finder to find your nearest location.

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Give us a call

If you can't find what you need on this page or in the FAQs, call us on 0800 30 20 11 and we'll be happy to help.

Frequently asked questions