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Change your mortgage term
You may be able to change your mortgage term to help manage your monthly payments. Just bear in mind that extending your term usually means you’ll pay more in interest charges over the duration of your mortgage.
See the impact of changing your term
Use our calculator to see how a change in term will affect your monthly mortgage payments and the total amount you’ll repay.
Enter your outstanding mortgage balance, your current interest rate and your current remaining mortgage term. Then enter the new mortgage term and you will see the impact the change has.
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We use these assumptions in our calculator:
- All years have 365 days.
- Interest is calculated monthly.
- All sub-accounts have been calculated individually.
- The estimate of total amount payable is to the nearest pound.
- Any interest rate changes haven’t been taken into account.
- There are no other changes to your mortgage which would need a recalculation.
What do you want to do? Let's help you get to the right place.
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Extending your mortgage term will mean you pay more over the term of your mortgage.
If you extend your mortgage term, you’re able to change back to your original term within the first six months without going through affordability checks.
If you’ve made any other changes to your mortgage, such as additional borrowing, more checks might be needed.
If you want to cancel after six months, please see ‘I want to reduce my mortgage term.’
Important: If you revert back to your term, your monthly payments will increase as you’ll be repaying the mortgage balance over a shorter term.
Would you like to change anything else at the same time?For example, you could make changes to your interest rate, repayment type or any life and critical illness policies you may have.
How would you like to continue?
Continue without advice
If you’re happy to apply without our advice, you can extend your term by using the form below.
If any of the following apply, you won’t be able to continue without advice. You’ll need to select one of the options from the ‘Continue with help from a Mortgage and Protection Adviser' section. Additional criteria might also apply.
- your existing mortgage term or extension takes you past 70, or your anticipated retirement age if it’s lower than 70.
- any part of your mortgage is interest only.
Continue with help from a Mortgage and Protection Adviser
If you would like to discuss your options, one of our expert advisers will help you to apply. Any advice we give you is protected by the Financial Conduct Authority.
Choose how you’d like to speak to us:
Call us
Call us to speak to one of our mortgage experts by phone or video.
We may monitor and record telephone calls to help us provide a higher level of service.
How would you like to continue?
Call usCall us to speak to one of our mortgage experts by phone or video.
We may monitor and record telephone calls to help us provide a higher level of service.
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If you’re thinking about reducing your mortgage term, one of our advisers will explain your options.
If you’ve had a term extension agreed, you can change back to your original term without an affordability check within the first six months of the extension.
If you’ve made any other changes to your mortgage, such as additional borrowing, more checks might be needed.
Important: If you revert to your term, your monthly payments will increase as you’ll be repaying the mortgage balance over a shorter term. Choose how you’d like to speak to us:
Call us
Call us to speak to one of our mortgage experts by phone or video.
We may monitor and record telephone calls to help us provide a higher level of service.
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For example, you may only have questions regarding interest rates, repayment type and Life and Critical illness policies. For these and all other mortgage queries contact us in a way that suits you best.
Call us
You can call us to speak to one of our mortgage experts by phone or video.
We may monitor and record telephone calls to help us provide a higher level of service.
Popular questions when changing your mortgage term
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1. How can I check my mortgage term?
You can find out how long is left on your current term and a breakdown of all your mortgage sub - account terms when you Log into Internet Banking. If you haven't registered yet, it usually only takes a few minutes and you should be able to sign in as soon as you’ve finished.
How to register for Internet Banking.
2. What is the impact of amending the term on my mortgage?
If you choose a longer term your monthly repayments will be lower, but you’ll pay more in interest charges. If you choose a shorter term you’ll save money in interest payments, but your monthly payment amount will be higher.
If you're thinking about reducing your mortgage term, or if your new mortgage term extends beyond your planned retirement age, we may need to ask some questions about your income.
We’re always happy to discuss your options with you.
3. What is the impact of reducing the term on my mortgage?
Reducing the term of your mortgage will in increase your monthly payments. You will need to speak to one of our Mortgage advisers to carry out affordability checks before we can reduce the term of your mortgage.
4. Can I cancel a Term Extension if I change my mind?
You can cancel a mortgage extension within the first six months and change back to your original term without an affordability check.
If you’ve made any other changes to your mortgage, such as additional borrowing, more checks might be needed.
5. Can I review my insurance and protection when amending the term of my mortgage?
Yes you can, and one of our Mortgage and Protection Advisers will be happy to explain your options if you’d like to find out more.
6. I have a Buy to Let mortgage. Can I extend my mortgage term?
In most cases you can extend your term but we’ll need to find out a bit more about your situation.
Please call us.
7. My mortgage is all or partially on Interest only. Can I extend my mortgage term?
Yes you can, and changing your term won’t affect your monthly payments. However, the term can be changed to coincide with the maturity of your repayment plan. Speak to one of our Mortgage Advisers to discuss your options.
8. How do I change my repayment method?
If you're thinking about changing to a repayment or interest only mortgage, you should call us to discuss your situation.
If you want to change to interest only, we’ll ask you to show us how you plan to repay your mortgage in full.
Learn more about the difference between repayment and interest only mortgages.
9. What can I do if I find it hard to keep up with my mortgage payments?
We understand that changes in people’s lives can cause unexpected financial problems.
If you’re finding it hard to keep up with your monthly mortgage payments, or think you may in the future, it’s best to let us know as soon as possible. We have a wide range of options for mortgage customers when they fall behind with their payments.
We can also recommend free, independent advice services who may be able to help.
Find out more about how we can support you in our financial difficulties section.