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.

Read more here

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.

Want to consider other repayment plan options?

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’re 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

You can tell us your plans using Self-Serve, our secure online service. If you’ve already registered, you can Sign In at any time and share details of your plans with us, using the new Repayment plan form which you find in your Account Summary screen.

For more details about how to register, please see our Using Self-Serve page.

Alternatively, please call us on 0344 472 6102 to tell us your plans directly. Our dedicated team is available Monday to Friday from 8.30am to 5.30pm.

Was this page useful?

Yes

Thanks for your feedback!