This site uses cookies and by using the site you are consenting to this.
Find out why we use cookies and how to manage your settings.
Close

Ways to get in touch

Close

Visit us

Find your nearest branch Our branches

Call us

Monday to Friday 8:30am - 8:30pm
Saturday 9:00am - 5:00pm

Savings: 0345 601 4021
Mortgages: 0345 601 3180
Other enquiries: 0345 601 3344
Request a callback

Chat to us

Start chat now
Menu Get in touch

Repayment methods

We offer you a choice of three methods of repaying your loan: ‘repayment’, ‘interest only’ and ‘mixed’.

1. Repayment
With this method you repay your loan, and interest charged, in monthly instalments over a term you have agreed - which can be up to 30 years. In the early years your monthly payment is mainly interest, with only a small proportion repaying the capital. Over time, the amount you owe reduces, until you have repaid the full amount borrowed.

2. Interest only
Alternatively, you may choose the interest only method of repayment. Each month you only pay the interest on the loan during the term of the mortgage. The capital amount of your loan remains as a standing debt to us until the end of the term of your mortgage and is then repaid, by you, in full.

If you choose this method, it is your responsibility to ensure that you have also arranged an appropriate repayment strategy to repay the outstanding debt, in full, at the end of the agreed term.

You must check your repayment strategy regularly to see that it is on target to repay the amount of your mortgage. You must also ensure that your repayment strategy is kept up-to-date and continues to provide you with the level of cover required. Failure to provide for the repayment of the loan, at the end of the term, will result in your total loan being in arrears and we may take action against you.

3. Mixed
You can arrange to repay your mortgage using part repayment and part interest only. With a mixed mortgage, your monthly payment is made up of the interest charge for the whole loan plus a capital repayment to pay back the repayment part of the loan only, over the term agreed. It is your responsibility to ensure that you have in place an appropriate repayment strategy to repay the outstanding interest only part of your loan at the end of the agreed term. You must check your repayment strategy regularly to see that it is on target to repay this part of your mortgage.


Compliance with the terms and conditions of the regulated mortgage contract does not ensure repayment of the total amount of credit.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE