Mortgage Charter support

Yes, although before you do, you might be able to use your overpayment balance to make underpayments, which could be more cost effective than reducing your payments through the Mortgage Charter. You can check whether you have the option to set up an underpayment in Online Banking, under ‘Mortgage management’. If you can’t see this option, call us on 0333 202 7580¹. We’re here Monday to Friday, from 7am to 8pm, and from 7am to 5pm at weekends (excluding bank holidays).

Yes, you can apply for Mortgage Charter support if you have permission-to-let in place.

If you have a shared ownership property, we recommend letting your landlord or housing association know that you’re applying for support under the Mortgage Charter.

Yes, as long as each account meets the requirements. You’ll need to apply separately for each mortgage account. You can apply for support on each mortgage, regardless of whether it’s more than one mortgage for the same property or several mortgages on multiple properties.

No, you can apply for support under the Mortgage Charter no matter how long you’ve had your mortgage, but you’ll need to have at least six months left on your mortgage term.

If you’ve switched to interest-only payments, you’ll automatically go back to your original mortgage payment plan and your monthly payments will increase to a higher level than before you switched to interest-only. This is because you’re paying back the same balance over a reduced period of time, so use our mortgage support calculator to make sure you can afford this before deciding on this option.

If you’ve extended your mortgage term, you can:

• Return to your original term. You’ll need to let us know you want to do this within six months of changing your term. As you've made lower payments with charter support, your monthly payments under the original term will be higher than before you extended your term
• Keep the extended term
• Partially revise the term so it’s between your original and extended term – for example, if you extended from 10 to 20 years, you could change it to 15 years instead.

To make any further changes after six months, you’ll need to go through the normal mortgage application process, which is subject to our affordability and lending criteria and credit checks.

If your Mortgage Charter support ends soon, see our End of Mortgage Charter support page for guidance on what happens next.

To work out how much you can afford to pay towards your mortgage, you can start by looking at your other monthly commitments. This includes essential living costs like food, bills (for example, council tax, utilities, and phone bills), travel expenses, and paying back anything you owe – like any loans, credit cards or overdrafts.

For most people, it makes sense to pay your essential expenses and priority debts first before you pay anything that’s lower priority. You can work this out with our income and expenditure form [PDF, 1.5 MB].

You can also look at the Money Advice Service’s guide on prioritising your debts. If you’re struggling to pay any of your debts, you could try contacting the companies you owe to discuss your repayment options.

If you’d like some impartial and confidential advice, here are some details of organisations that may be able to help:

• MoneyHelper – visit moneyhelper.org.uk
• StepChange Debt Charity – call them on 0800 138 1111 or go to stepchange.org
• National Debtline – if you live in England, Scotland or Wales, go to nationaldebtline.org or call 0808 808 4000. For help managing your money, use their digital advice tool tools.nationaldebtline.org/dat-reg
• Citizens Advice – visit your local Citizens Advice or go to adviceguide.org.uk

If you’ve looked at your budget and you’re worried you won’t be able to afford the Mortgage Charter support options, please call us on 0333 202 7407¹. We’re here Monday to Thursday from 8am to 8pm, Fridays from 8am to 6pm and Saturdays from 9am to 1pm (excluding bank holidays).

Extending your term

If you’re applying to extend your term more than 14 days before your next payment is due, you’ll see the new amount in your next payment. If there are less than 14 days before your next payment when we approve your term extension, you’ll pay the new amount in the following month. 

Example:

Approval date: 25 July  

Next payment date: 1 August

New payment amount will start on 1 September. 

Interest-only payments

We can only make changes to your payments between the 17th and 1st of the month. If you’re applying for interest-only payments with more than 14 days before your next payment is due, you’ll pay the new amount in your next upcoming payment. If there are less than 14 days before your next payment when we approve your interest-only application, you’ll pay the new amount in the following month. 

We’ll send you details for your new payment amount and state dates at least 14 days before the due date of your first new payment amount.

Example:

Approval date: 3 August

Changes applied: 17 August

Next payment date: 20 August

New payment amount will start on 20 September.

Yes, you can still apply to switch to interest-only payments. If we approve your mortgage charter application, the temporary change to interest-only payments will start from the month after you apply or the following month if your next payment is due within 14 days.  

Your rate switch will still go ahead as planned, and we’ll work out your interest-only payments based on whether you’re still paying the old rate or have switched to the new rate in each of those months. 

We’ll send you an updated payment breakdown when the rate switch starts, and again at the end of the six-month interest-only period.

You’ll make interest-only payments for six months.

Yes, you can.

For interest-only payments: If your new rate starts during the six-month support period then any remaining interest-only payments will continue with the new rate. We’ll  send you an updated payment breakdown when the rate switch starts and at the end of the six-month interest-only period.

If you change your mortgage, your existing insurance policy won’t be updated automatically so you might not have enough cover. You’ll need to check any insurance policies linked to your mortgage to make sure they still suit your needs. 

Interest-only payments 

If your insurance policy decreases over time, you might not have enough insurance to cover your full mortgage.

Extending your term

If you extend your mortgage term and your insurance covered the original term, you’ll have a shortfall in cover. 

Yes.

Yes.

It’s the same as missing a mortgage payment and is a breach of your mortgage conditions. We’ll work with you to get back on track. Please call us on 0333 202 7407¹. We’re here Monday to Thursday from 8am to 8pm, Fridays from 8am to 6pm and Saturdays from 9am to 1pm (excluding bank holidays).

No. The Mortgage Charter has been designed to help you reduce your outgoings and we won’t report it negatively to credit reference agencies.

Yes, you can make changes to your mortgage as normal during the support period.

Yes.