Need help reading this page? Click to activate Recite Me popup.

What to do if your interest-only mortgage term has ended

As you have reached the end of your term, any interest-only parts of your mortgage should have been repaid.

If you think you won't be able to repay all, or part, of your interest-only mortgage - call us today and we’ll help you understand what solutions may be available for you.

Every day we help customers who thought they had no options to make a plan.

You must repay everything you owe at the end of your interest-only term. If you can’t do this, your property may have to be sold.

You need to call us so we can agree a solution with you.

To find out how much you need to repay

You need to talk to us now, please call us.

Common ways to pay off your interest-only mortgage

If your mortgage term has ended, and you haven’t yet repaid your interest-only mortgage balance, you need to call us.

We’ve listed the most common ways to pay.

Switch to a repayment mortgage, or a part & part mortgage

You may be able to switch all, or some, of your mortgage to a repayment mortgage. To switch to repayment, please call us. We’ll look at your income and how much you spend each month to understand if this is an affordable option for you.

There are three different ways of repaying your loan. These are: repayment, interest-only, a combination of repayment and interest-only. Find out more about different mortgage types.

Sale of your main or second property

You can sell your main or second property to repay your mortgage balance. It’s important to be realistic about the value of your property, and the time it will take to sell. Find out more about sale of your main or second property.

Sale of a business or other assets

You can sell your business or other assets to repay your mortgage balance. It's important to be realistic about their value.

Savings, Endowment Policies and Investments

You can use any of these to repay your mortgage balance. Look at your statements to understand how much your plans are worth. Find out more about savings, endowment policies and investments.

Pensions

You can use the lump sum from your pension policy to repay some, or all, of your mortgage at the end of the term. This will impact the income you'll have when you retire. If you're unsure how this will affect your retirement income, you should speak to an independent financial adviser.

Later life lending solutions

There may be other later life lending solutions available to you depending on your circumstances, please call us.

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 advisers at unbiased.co.uk.