Make a plan to make sure you own your home

By the time your mortgage ends, you’ll need to repay the full interest only balance.

If you don't know how you’ll repay it, or don't think your plans will provide enough – call us today and we’ll help you understand your options.

From using investments to making overpayments, there are many different ways you can repay your mortgage.

Common repayment plans

Be prepared for when your mortgage ends

Don't leave it too late – The end of your mortgage may seem a long way off, but the sooner you act, the more options you’ll have to choose from. You may even pay less interest.

By acting now

  • You may have more options to choose from.
  • If you switch to a repayment mortgage, the increase in your monthly payment will be smaller.
  • If you start making overpayments earlier, these overpayments can be smaller.
  • If you’re selling your home, you’ll have longer to prepare for the sale.

By leaving it later

  • You might have to cash in investments quickly.
  • You might not have the option to switch to a repayment mortgage as the increase in your monthly payments may not be affordable.
  • You might not be able to afford to make enough overpayments to clear your interest only balance before the end of the mortgage term.
  • You might have no choice but to sell your home.

Understand how much and when you need to repay

Make sure your chosen plans will provide enough and importantly that you’ll be able to get the money when you need it. If you’re registered for online banking you can see your mortgage account balance and statements online. Your balance will also be on the statements and letters we send you. Or you can call us and ask.

Put a plan in place that’s right for you

Tell us your plans online

Or call us 0345 609 8951. Our lines are open Monday to Friday 8am to 8pm and Saturday 8am to 1pm.

Interest only mortgage overpayment calculator

Use our calculator to see how overpaying on an interest only mortgage can save you money. You could reduce your mortgage balance and the amount of interest charged.

Overpayment calculator

Get in touch

Call us on 0345 609 8951

We're open Monday to Friday 8am to 8pm, and Saturday 8am to 1pm.

Case studies

How we've helped our customers

Every day we help customers who need to put plans in place. Even if you're approaching the end of your mortgage, it's never too late. You can also ask us to talk to a friend or family member you trust.

Mr & Mrs Murray

Mr & Mrs Murray planned to use an endowment policy to repay the interest only balance of £120,000 when their mortgage term ends in 4 years.

Their latest endowment statement showed their policy was only projected to be worth £85,000 at maturity, meaning they wouldn’t have enough to repay the full balance.

Mrs Murray called us to understand their options for repaying the difference of £35,000.

After discussing their monthly income and expenses, we agreed they could afford to switch all, or some, of their mortgage to repayment.

Mr & Mrs Murray decided to use their endowment policy to repay £85,000 of the interest only balance and we agreed to switch the remaining £35,000 to repayment over 4 years. This meant they could repay all their mortgage when they originally planned to.

Ms Edwards

Ms Edwards has a part repayment and part interest only mortgage of £65,000. She intends to use the money from an endowment policy to repay the interest only balance of £30,000.

Although the projected value of the policy is enough to repay the balance, the policy doesn’t mature until 8 months after the interest only part of her mortgage ends.

Ms Edwards called us to understand if she could extend the interest only part of the mortgage until she has access to the money from her endowment policy. She was happy to continue with the repayment part of her mortgage.

After discussing her situation, we agreed to extend the interest only term by 8 months once we had received a copy of her latest policy statement. This will allow Ms Edwards to pay the interest only balance in full once the money from her endowment becomes available.

The names shown above have been changed, but these are examples of real customer experiences. Any options we discuss with you, will be based on your individual circumstances.

Where can I find independent help and advice?

Although we're always here to talk to you about your mortgage, there are other people you can talk to for free and impartial help and advice. These include:

You can find a list of independent financial advisors at