Term extension

You can request to extend your term so you repay your mortgage balance over a longer period, which will then reduce your monthly payments.

Extending the term of your mortgage will cost more overall because you’ll pay interest for a longer period.

Term extension is available without an affordability check being carried out.  As long as you maintain the required payments, this change will not be negatively reported to Credit Reference Agencies.

If you’ve extended your mortgage term, you can request to switch back to your original term without an affordability check within six months of making the change.  After six months, a change in term can be requested in line with our policy.

If you can afford to make your current regular mortgage payment, you should do so, as customers who do not make changes will pay less over the term. It is important you understand that if you proceed with this change, the overall cost of your mortgage would increase.

Qualifying criteria:

• No missed mortgage payments
• Maximum mortgage term is 35 years
• Maximum age at the end of the term is 70 years old.

If you would like to request this option, please contact our Customer Support team on 0344 257 0427. They are available Monday to Friday between 9am and 5.30pm. They will be able to give you all the information needed to make an informed decision and provide you with the details on how extending your mortgage term will change your monthly payments.