Before you start

Extending your term online

To extend your term online, you'll just need the mortgage account details for all account holders.

Reducing your term online

To reduce your term online, you’ll need the following information for all account holders:

  • Mortgage account details
  • Income (salary, bonuses, pension)
  • Any payments you make on money you’ve borrowed (such as credit card payments and personal loans)
  • Any other outgoings (such as monthly travel or maintenance costs, council tax, insurance and any other mortgages)

If you're comfortable changing your mortgage term without our advice, you can apply online at your own pace.

You need to understand that you're responsible for your decision to change your term. You'll get no advice from us, so you won't be protected if you later decide that changing your term wasn't suitable.

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 have 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.

Not sure changing is right for you?

Changing your mortgage term can have a big impact on your financial situation, so it's really important that you understand your options.

Our Mortgage Consultants are here to help. Call 0800 30 20 11 or visit us in branch and we’ll talk you through your options and make a recommendation based on your individual needs.

Extending your mortgage term will make your monthly repayments smaller. But it’ll also increase the amount of interest you have to repay overall.

Reducing your mortgage term means you’ll repay more each month. But the overall amount of interest you’ll have to repay will be less.

Our mortgage payment calculator will help you estimate how extending or reducing your mortgage term could affect how much you pay each month.

If you'd like to know what your new monthly mortgage payment would be, or find out your total amount payable by changing the mortgage term, speak to a mortgage representative on 0800 545 3034 or visit us in branch.

Ready to apply?

Choose the relevant option to start your application.

Change my mortgage term

Use this application if you want to pay your mortgage over a longer or shorter term.

If you have one of our Later Life mortgages, you won’t be able to change your mortgage term.

If you have any questions give us a call on 0800 30 20 10 or ask in your local branch.

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