Overview

What is a mortgage term?

Your mortgage term is the time you have left on your mortgage.  You would have chosen your term when you took out your mortgage with us. To find out your term check online or on your annual mortgage statement, it will also be shown on your mortgage offer.

You can apply to either extend or reduce your mortgage term 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.

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?

You can apply to change the term of your mortgage on advised basis or execution only basis (without advice) by calling us on 0800 30 20 11.

You'll be unable to change the term if any of the following apply:

  • 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.
  • There's a guarantor on the mortgage.

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.

Applying on an execution only basis (without advice)

You can request a pack which provides all the details you'll need to apply for a change of term.

Once we've received your completed forms and documentation we can process your application and let you know when it's complete.

Simply call us on 0800 30 20 10 or visit us in branch. It's not currently possible to apply to change your mortgage term online.


Find out more

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

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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