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Change your mortgage repayment type

If you have an interest only mortgage – or part of it is interest only – you can change to a capital repayment mortgage. That means you'll start to pay off the capital you've borrowed as well as the interest. If you move your whole mortgage to capital repayment you will have paid it off in full by the end of the term.

Being eligible to change your repayment type

You can’t apply if:

  • You want to apply to change from capital repayment to interest only.
  • The property is currently being let.
  • Your mortgage was regulated by the Consumer Credit Act at the time it was taken out.
  • There's a guarantor on the mortgage.
  • You or anyone else on the mortgage have been declared bankrupt and have not been discharged.

Information:

If you want to change your mortgage term visit our term change page.

What to expect when changing your repayment type

Changing your mortgage to capital repayment can have a big impact on your financial situation. You need to be sure you'll be able to keep up the higher monthly payments.

When you apply, we’ll do some affordability checks to make sure we’re happy that it won’t put too much strain on your finances.

We’ll let you know the outcome of the checks either way. If we accept your application, we’ll then change your repayment type within 10 working days.

We do not charge to change your repayment type.

Note:

If you’re concerned about paying your mortgage, we’re here to help. Call us on 0800 464 30 30 (Monday to Friday, 8am to 6pm, Saturdays 9am to 12pm, Closed Sundays and bank holidays) to discuss your options or visit our challenging times page.

How to apply

We’ll need to speak with you first before you apply.

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Important:

Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage.
Mortgages are subject to underwriting and criteria. Minimum age 18, UK residents only.