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How do I make sure my repayment plans for my interest only mortgage are on track?

If you have an interest only mortgage or a mortgage that includes an amount borrowed on interest only terms, it’s important to check regularly that your savings plan or other investment is on track to repay the mortgage at the end of the term. You can update us with your repayment plans by completing our interest only assessment form.

For all types of repayment plan, we recommend that you regularly obtain confirmation, together with financial advice, from your repayment plan provider(s) to ensure that the projected maturity value will be sufficient to repay your mortgage. If it indicates a potential shortfall, you have a number of choices to consider depending on your individual circumstances. To understand more about the options available to you, please visit our Interest only mortgages page.

Where can I go for further support?

MoneyHelper offers free, unbiased advice on interest only mortgages. Visit or call them on 0800 138 7777.

In addition, the FCA has published an ‘Interest only mortgages: act now and talk to your lender’ leaflet which highlights the benefits of talking to your lender early. You can read the leaflet here.

If you wish to discuss your mortgage in further detail or require any further assistance please contact our Customer Services team on 0345 241 4526.

It is your responsibility to ensure you maintain adequate life cover throughout the term of the mortgage and, where interest only payments are being made, that you have sufficient investment funds available at the end of the mortgage term to repay all sums due.

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