Mortgage overpayments and underpayments
Flexible mortgages that fit around you
Your mortgage, your way
We know your finances and circumstances can change from time to time. That’s why all our flexible mortgages give you the option of making overpayments and reducing your monthly payments in part or in full. More or less – the choice is yours.
There's more information on these features below, but if you want to talk to us about them you can call the team on 0345 111 8020** and they will be able to talk you through your options.
Overpay your mortgage
Whether you’ve got a bit of spare cash each month or some savings in the bank, you could save money and be mortgage-free quicker by making overpayments.
Making an overpayment reduces the amount you owe on your mortgage right away – giving you more flexibility in the future. You could lower your monthly payments in part or full or reduce your term. The choice is yours.
How do you overpay?
Overpaying on your mortgage is quick and simple. You can set up a regular monthly payment over your normal amount or pay a one-off lump sum. It’s completely up to you.
Just give us a call on the number below at least 14 days before your next payment is due and we’ll talk you through your options.
Charges for overpayments
Depending on when you want to make an overpayment, and how much you want to pay, you might have to pay an early repayment charge.
If you do, this would only happen during your early repayment charge period (all details will be set out in your mortgage illustration and mortgage offer).
During each 12-month anniversary period of your mortgage, you can overpay by up to 10% of what's left on your mortgage without paying a charge. The first 12 month allowance period will begin from the completion date of the original mortgage and refresh on every anniversary thereafter. But if you overpay by more than 10%, you’ll pay a charge on the amount that's over that initial 10%.
For example, if 10% of your mortgage is £20,000, and you make an overpayment of £25,000, you'll pay an early repayment charge on £5,000.
Once you’re outside your initial fixed rate period, you can overpay as much as you like without any charges.
To find out more about our terms and conditions click here for:
Residential terms and conditions (PDF 772KB)
Buy To Let terms and conditions (PDF 800KB)
How much could you save?
Thinking of making an overpayment? Find out how much you could save with our overpayment calculator.
Underpay on your mortgage
Overpaid on your mortgage? Take a break and relieve some pressure by bringing down your monthly payments in part or in full.
How much can you underpay by?
You can make lower payments in part or in full, up until you reach the amount you’ve previously overpaid or the amount of two contracted monthly mortgage payments.
Remember that when you underpay on your mortgage, you're increasing the amount you owe. Find out more in our terms and conditions:
Residential terms and conditions (PDF 772KB)
Buy To Let terms and conditions (PDF 800KB)
Want to underpay?
Whether you want to stop your monthly payment or pay a bit less each month, you’ll have to get in touch to arrange this. Just give us a call on the number below at least 14 days before your next payment is due and we’ll talk you through your options.
Is there anything else we can help with?
Existing rate ending
See if you can switch your existing mortgage to a new product.
Manage your mortgage
From changing your payment details to paying off your mortgage.
Financial difficulties
Money worries? Please get in touch, we want to help
The mortgage is secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Lending subject to status.
| For further questions |
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 Call 0345 111 8020** | Helpful phone numbers |
Our lines are open: Monday to Friday, 8am–8pm, Saturday, 9am–1pm and closed Sunday
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