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Mortgage Charter support calculator

Our Mortgage Charter support calculator provides an indication of what your monthly mortgage payments may be if you were to apply for either a term extension or you were to temporarily switch to Interest Only payments for six months.

Before making any changes it’s important to remember you should continue to pay your current monthly mortgage payments if you can afford to. Changing your mortgage term or changing to interest only payments for six months will increase the amount of interest you pay over the term of the mortgage.

You can find the information you need to complete the calculator by logging into our Mortgage Portal. Alternatively, you can also find this information on your most recent mortgage statement.

Please note that this calculator is for guidance only. All figures provided are approximate.

The Mortgage Charter gives the option of either extending your mortgage term or temporarily switching to Interest Only payments for six months. You will need to complete all fields in the calculator to enable you to compare the monthly mortgage payments for both of these options.

This is the amount of time left on your mortgage overall, not the length left on your current product.

Your mortgage term cannot go beyond your retirement age or take you past 75, whichever comes earliest.

  • Current Payments
  • Monthly payments
  • Monthly payments after 6 months n/a
  • Total cost over term
  • Term Years, Months
  • Payments with Term Extension
  • Monthly payments
  • Monthly payments after 6 months n/a
  • Total cost over term
  • Term Years, Months

    • Residential owner-occupied mortgage customers who are up to date with their mortgage payments can extend their mortgage term. By extending your mortgage term:

    • your monthly payments will reduce as you’ll be paying your mortgage balance over a longer period. As you’ll be paying over a longer period you will pay more interest overall
    • your balance will take longer to reduce as your mortgage term will increase and you’ll be paying over a longer period

    It’s also important to remember that you have the option to change your mortgage term back to its original term during the first six months without any affordability checks. However, if you choose to return to your original term after six months the change will be subject to affordability checks. By changing back to your original term your monthly mortgage payments will increase.

  • Payments with Temporary Interest Only
  • Monthly payments
  • Monthly payments after 6 months
  • Total cost over term
  • Term Years, Months

    • Residential owner-occupied customers who are up to date with their mortgage payments can temporarily change to interest only payments for six months. By changing to interest only payments:

    • your monthly mortgage payment will reduce for six months. When this period ends, your payments will increase to ensure your mortgage balance is repaid in full at the end of your mortgage term
    • you’ll only pay the interest on your mortgage balance. This means during this time, your mortgage balance won’t reduce and therefore you’ll pay more interest over the remaining term of the mortgage

Submit your request

Before making any changes it’s important to remember you should continue to pay your current monthly mortgage payments if you can afford to. Changing your mortgage term or changing to interest only payments for six months will increase the amount of interest you pay over the term of the mortgage.

Please note, under the Mortgage Charter, you can only select one of these options.

Request temporary interest only

Submit request

This calculator provides an estimate only and does not take into consideration any overpayment restrictions or Early Repayment Charges. It also assumes that there are no other changes during the duration of the mortgage term stated i.e. changes to interest rates or your product.

Please contact us to discuss your requirements in more detail.



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