Special features

Having a little flexibility can make a huge difference to managing your mortgage. That's why, regardless of the mortgage deal you choose you could:

Make overpayments or part repayments

Make underpayments

Take a payment holiday

Change your repayment term

Add any fees to your mortgage

Have your interest worked out on a daily basis

Make overpayments or part repayments

You can do this at any time. You only have to pay a charge when the mortgage product you have chosen is subject to an early repayment charge. Even then you can pay up to 10% of the amount on that product in any 12-month rolling period free of charge  When you make the payment you must tell us that you intend it to be a part repayment of capital to ensure that the 10% concession is taken into consideration when calculating the early repayment charge. 

If you repay part of the amount you owe us, you will have to tell us if you are repaying a variable bank rate loan, a special rate loan or an added rate loan.  (If you do not tell us, we can decide which part of the amount you owe us you are repaying).

Any unused concession from a previous 12 month rolling period cannot be carried forward.

You cannot take advantage of the 10% concession if you are repaying all of the money you owe us.

We reserve the right to change or withdraw this concession.

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Make underpayments
Great peace of mind if you need a little breathing space with your monthly payments for a while. You can make underpayments up to the amount of any previous overpayments. If you make underpayments you are still charged interest on your mortgage balance during this period.
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Take a payment holiday  
Ideal if you would like a short break from your regular mortgage payments. Available for a period of between one and six months over the life of the mortgage. You need to have had your mortgage for at least three months and be up to date on your payments. If you have a second charge on the property or the 'loan to valuation' exceeds our criteria you won't be eligible for a payment holiday. If you take a payment holiday you are still charged interest on your mortgage balance during this period.
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Change your repayment term
You could choose to repay your mortgage over up to 40 years to help reduce your monthly mortgage payment. Equally, you can reduce your mortgage term to pay the mortgage off earlier. Just bear in mind that the longer you take to repay your mortgage, the more interest you'll be charged
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Add fees to your mortgage
For example, if you choose a mortgage deal with a product fee you don't have to pay this upfront. You can add it on to your mortgage but you'll be charged interest
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Have your interest worked out on a daily basis
We calculate the interest we charge you on a daily, rather than an annual basis. This could save you money
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Your home may be repossessed if you do not keep up repayments on your mortgage.