Make extra mortgage payments

Fixed rate mortgages - each year, you can make additional payments to the value of 10.00% of the outstanding loan (as calculated at the start of the year). You can't roll any unused allowance over.[@overpayment-allowance-dates] 

Variable rate mortgages - if you have an SVR, lifetime tracker, 2 year tracker or homebuyer mortgage variable rate, there's no limit on how much you can overpay.

If your mortgage Offer Document was issued on or after the 27 September 2015 please refer to your Offer Document to see details of your annual overpayment allowance.

For advice on how much you can overpay, speak to one of our advisers.

If you currently pay interest only, your standard monthly payment will be the amount you need to pay each month to cover the interest that has accrued on the capital balance of your loan. It is calculated using the capital balance at the end of each day.

If you currently pay both capital and interest (known as capital repayment), your standard monthly payment is the amount you need to pay each month to cover both the interest that has accrued on the capital balance of your loan and part of the capital. It is calculated so as to ensure that, if you make all of the required payments in full and on time, your loan will be repaid by the end of the term as shown on your Offer Document.

We can arrange for your monthly payments to be increased by setting up an overpayment (called a Flexible Payment Arrangement) so we collect a higher amount by Direct Debit every month.

We need 10 working days notice to set up your Flexible Payment Arrangement. If it's less than 10 working days until your next payment, we'll set it up from the following one.

Yes you can, subject to limitations. Please call us on 03456 00 61 61 for details of your annual overpayment allowance. As long as you don't go over your allowance, you won't incur an early repayment charge. 

Yes. Providing you don't go over your annual overpayment allowance, you can make overpayments without any early repayment charges. If you want to go over your annual allowance, give us a call on 03456 00 61 61 to discuss what the early repayment charges would be. 

If you make overpayments to a mortgage with an Annual Overpayment Allowance (AOA), then you should review the amount you are paying at least once a year.

On the anniversary of when your interest rate was applied, your new AOA will be calculated. It is important to review both the AOA and your overpayments to ensure you don't incur any early repayment charges. You can check your AOA by calling us on 03456 00 61 61.

When we recalculate your standard monthly payment for a loan on a capital repayment basis, it must always be based on the term set out in your Offer Document, so you always know the minimum standard payment you need to pay each month to ensure your loan is repaid by the agreed date.

If you currently pay interest only, your standard monthly payment will be the amount you need to pay each month to cover the interest that has accrued on the capital balance of your loan.

If you're making regular overpayments, you can always drop back to the standard monthly payment again if your circumstances change or if you have other priorities for your money.

If you wish to continue paying a higher amount so that your loan may be repaid sooner, you can do so by setting up a Flexible Payment Arrangement, or by increasing the amount of an existing one.

We won't change your Direct Debit amount unless the new standard monthly payment required to repay the loan by the end of the term becomes higher than the amount you have asked us to collect each month.

For example, if you've arranged to always pay £500 per month and your standard monthly payment rises from £450 to £475 per month, we'll continue to collect £500. However, if the standard monthly payment rises to £550, we'll automatically collect £550 to keep the repayment of your loan on track.

If you want to change or cancel a Flexible Payment Arrangement please contact us online via 'My Messages' or call Mortgage Servicing on [03456 00 61 61](tel:03456 006161). Lines are open 07:00 to 21:00 every day. Calls may be monitored and recorded.

This can occur if you've been making regular overpayments or have made lump sum reductions to your loan without asking us to recalculate your standard monthly payments.

Whenever the interest rate is changed, the standard monthly payments are automatically recalculated to the minimum amount required to repay the loan balance, at the revised interest rate, over the remainder of the original term.

As any previous overpayments will have reduced your loan balance, we don't need you to pay as much in future to repay the loan by the end of the agreed term.