What is a repayment method?

Your repayment method is how you repay your mortgage and what your monthly mortgage payment includes.

How is your current mortgage repaid?

Your mortgage may be repaid on an interest only basis where you only pay the interest charged and pay the balance at the end of the term, on a capital repayment basis where you pay both the interest and capital and will have repaid your mortgage at the end of the term (provided all payments have been made) or a combination of the two (part and part).

Interest only or part and part

If your mortgage is repaid on interest only or part and part (part interest only and part capital repayment) you can ask to change your repayment method. However, you'll only be able to change the part of your mortgage that is interest only to capital repayment. You won't be able to increase the amount of your mortgage that is interest only. Any part of your mortgage changed to capital repayment will be paid off by the end of your term, providing all payments have been made.

Nationwide no longer offers new interest only or part and part mortgages.

Capital repayment

If your mortgage is repaid on capital repayment you won't be able to change any portion of your mortgage to interest only.

Am I eligible to change my repayment method?

You can only change your repayment method if you’re on interest only or part and part. If you’re on capital repayment you can’t do this.

You won't be able to apply to change your repayment method if you’re currently bankrupt.

You’ll need to contact us on 0800 30 20 11 if:

  • The property is currently being let. 
  • Your mortgage was regulated by the Consumer Credit Act at the time you took it out.
  • There's a guarantor on the mortgage.

If your account is in arrears or you are facing financial difficulties, it’s easier for us to help you if you speak to us directly. Please call us on 0800 464 30 30.

How do I change my repayment method?

If you’d like to change your repayment method, this can be done either with or without advice:

Applying with advice from us

If you'd like advice from us on which repayment method is best for you our Mortgage Consultants will be happy to 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 without advice

If you'd prefer to make your own choice about changing your repayment method, 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:


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).

Change my repayment type

Use this form if you only want to change your mortgage repayment type.

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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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