What happens when your Mortgage Charter support ends?

You’ll keep the extended mortgage term, and your monthly payments will stay the same. Your mortgage will cost you more overall because you’ll be paying interest for longer. 

Your original mortgage terms and conditions still apply to the new mortgage term. If you have any life or critical illness policies, make sure that they’re updated according to your new mortgage term.

If you still have some time left with Mortgage Charter support, you can make the following changes to your mortgage:  

• Change back to your original mortgage term. Your payments will be higher than they were before you extended the term if you do this.
• Reduce the extended term to a term that’s between your original and extended term. If you extended your term from 10 years to 20, for example, you could then reduce it to 15 years.

You can still change your term after the Mortgage Charter support ends, but you'll need to go through our standard affordability checks. 

Call us on 0333 202 7580* to get help changing your mortgage term  – we’re here Monday to Friday, from 7am to 8pm and on weekends from 7am to 5pm. To maintain a quality service, we may monitor or record phone calls. Call charges

We’ll automatically switch your mortgage back to your original payment type when your Mortgage Charter support ends after six months.

Your monthly payments will be higher than before you switched to interest-only. This is because you haven’t been paying off any of the mortgage balance during this time.  

Your higher monthly payment will start from month seven. We’ll send you a payment notice confirming your new monthly payment at least 14 days before its due.