EXTEND YOUR MORTGAGE TERM

What does term extension mean?

Extending the term of your mortgage means paying it back over a longer period of time. It's a way to make monthly payments more manageable. It's important to remember that you'll pay back more over the full term of your mortgage. That's because you'll pay interest for longer.

Can I change my mind?

Yes, you can switch back to your original mortgage term if you change your mind or your circumstances change. If you do that within six months, you won't need an affordability check. After six months, you can ask to change back in line with our policy. 

Qualifying for a term extension

• You can apply for a term extension if you haven’t missed any of your mortgage payments.
• The maximum mortgage term you can apply for is 40 years (if the property is leasehold there must be an acceptable minimum unexpired leasehold term remaining at the end of the mortgage of 50 years).
• The maximum age at the end of your mortgage term is 79 years and 364 days.
• For interest-only the minimum term is 10 years and you’ll need to be 70 years old or less at the end of the term.

If you meet the above criteria, we can consider your term extension request. As long as you continue to make your monthly payments, the change won't have a negative impact on your credit score.

Finding out more about term extensions

Please call our Customer Support team on 0344 257 0427 between 9am and 5.30pm Monday to Friday or email customer support

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. if you proceed with this change, the overall cost of your mortgage will increase.