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.

Unsure if you have an interest only mortgage?

It’s important you’re fully aware of the type of mortgage you have, so you can plan ahead. If you’re unsure, we can help you find out.

Want to consider other repayment plan options?

There are various ways you can prepare to pay back the balance you owe or minimise any potential shortfall.

You need to have a plan in place to repay your interest only mortgage. It’s never too late to get started and the sooner you act, the more options you are likely to have

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.

Tell us your plans

However you intend to repay your interest only mortgage, it’s important that you get in touch and tell us your plans.

If you’re unsure how you might repay your loan or don’t have a plan yet, we can guide you through the different options available and highlight sources of independent advice which may be helpful.