Switch to a repayment or part & part mortgage
If you have an interest only mortgage, when your mortgage reaches the end of its term, you’ll need to repay the amount you owe us as a lump sum.
If you’re a landlord, it’s not possible to switch an existing interest only buy-to-let mortgage to repayment or part & part.
Instead of changing repayment type, you could consider the benefits of making overpayments, which will help reduce your mortgage balance and the amount of interest you pay. That may help you to pay off your mortgage earlier or could mean that you’ll have more options to remortgage in future. Please see our dedicated page here.
If you can’t repay your balance
We don’t allow term extensions on a buy-to-let mortgage and we can’t offer new mortgage deals or further loans to customers. We may need to take action to repossess your property if you’re unable to pay the full amount at the end of your term – and if you sell your property, you could be taken to court to recover any shortfall if the sale price achieved does not cover the balance you owe.
Other information on our website that might be useful
See the positive impact making overpayments could have on your mortgage.
Useful tools & calculators
Our calculators will help you plan and consider some of your mortgage options.
Redeeming your mortgage
Find out all the information if you’re redeeming (paying off) your mortgage with us.
Find a better deal
Information and support if you’re looking to move your mortgage to another lender.