End of your Initial Fixed Rate

When your initial fixed or tracker rate ends, your mortgage will revert onto a variable interest rate, linked to either the Bank of England Base Rate or our Residential or Buy to Let Base Rate. It’s important to understand what this could mean for you.

What are my options when my fixed rate period ends?

If your initial fixed or tracker rate is ending soon, we’ll write to you in advance with details of what this means for future payments. This letter will also include details about our Product Transfer service. You can read more about this here.

Payments on the variable rate that applies when your mortgage reverts may be higher than when you were on an initial fixed or tracker rate, in which case you will see an increase in your monthly payment. The variable rate may also change over time to reflect changes in the Bank of England Base Rate or our Residential or Buy to Let Base Rate, so you may see further increases in your payments while you remain on it.

You may be able to switch to a less costly option by contacting a qualified mortgage adviser for advice on alternative mortgage products. Speaking with your mortgage adviser early is important, as they will be able to help you search for the best option based on your specific needs and circumstances.

Finding advice on your mortgage options

Information on mortgages can be found at www.moneyhelper.org.uk. To find a qualified mortgage adviser in your area, visit www.unbiased.co.uk.

What to do if you struggle to make payments

If you have any difficulties in paying your mortgage at any point, you should contact us as soon as possible. This will allow us to discuss the options available to you based on your circumstances and what you can afford to pay.

See further information on the Cost of Living section of our website.

Contacting us

You can call our Customer Services Team on 0344 257 0428, any time Monday to Friday between 9am and 5.30pm.