Ways to reduce your monthly payments 

There are a number of options available to help you with your mortgage payments.

Make an underpayment

If you have an overpayment reserve on your mortgage, you can choose to make an underpayment. 

If you’re making overpayments on your mortgage, you can stop doing so. Or you can change the amount you overpay. 

Switch your mortgage deal

If you can still make your mortgage payments, switching your deal – if possible – may help to reduce your monthly payments.

Increase your mortgage term

Extending your mortgage term is one way to help reduce your monthly payments. However, this is a long term solution. You should only consider it if your financial situation is stable. For example, if your income has permanently changed.

A term change will increase the amount of interest you have to repay overall.

Take a mortgage payment holiday

A mortgage payment holiday gives you some flexibility in repaying your mortgage. It can allow you to stop or reduce your monthly payments for between one and 12 months.

Mortgage payment holidays are only available on some of our mortgages. To see if you have the payment holiday feature on your mortgage, please check your latest mortgage offer.

Coronavirus mortgage payment breaks

Due to coronavirus, we offered mortgage payment breaks from 20 March 2020 to 31 July 2021. This was in line with FCA guidelines.

However, we are no longer accepting applications for:

  • new mortgage payment breaks
  • mortgage payment break extensions.

If you can’t make your mortgage payments

If you're unable to make your monthly payments or if you've already missed one or more payments, don’t panic. We’re here to help.

We understand that it can feel easier to avoid a conversation with us and hope the situation improves. But the sooner you get in touch, the quicker we can help you.