HELP & SUPPORT
Money Worries
We know sometimes managing your money can feel like a struggle. We help lots of people just like you every year, offering support based on individual circumstances.
So if you're concerned about managing your mortgage payments, here's where to get in touch.
Frequently Asked Questions
All our customers’ frequently asked questions are right here, making it easy for you to find the answers you need.
Change in circumstance
When new circumstances cause a drop in income it can be difficult to manage your finances. If you're worried about making your mortgage payments, just get in touch. We'll look at your circumstances and what you can afford to pay and talk through the available options.
You can call our Customer Support team on 0344 257 0427 Monday to Friday between 9am and 5.30pm.
Initial fixed rate ending
When the initial fixed or tracker rate on your mortgage ends, it automatically switches to a variable interest rate. That means you pay interest in line with the Bank of England base rate or our Residential or Buy to Let base rate.
What are my options?
It's important to understand how the end of your initial fixed or tracker rate affects you. So we'll write to you before that happens to tell you what it means for future payments.
The interest rate you pay will be in line with the base rate set by the Bank of England, or by our Residential or Buy to Let mortgage. So if the base rate that applies to your mortgage goes up, your payments will go up. If this base rate goes down, your payments go down.
If you're worried about how that might affect your ability to make mortgage payments, you might benefit from a Product Transfer. The letter about the end of your fixed or tracker rate tells you more about that option. You'll also get more information by speaking to your qualified mortgage adviser. It's important to do that as early as you can, so you have plenty of time to make the change if you want to.
Term extension
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.
To find out more about term extensions call our Customer Support team on 0344 257 0427 between 9am and 5.30pm Monday to Friday or email customer support.