Worried about your mortgage payments?
Your home may be repossessed if you do not keep up your payments
Frequently asked questions
A: We won’t add any marker to your credit file where you use the options under the Mortgage Charter. Any changes to your monthly payment are reported as standard. Your credit score is owned and calculated by the Credit Reference Agency.
A: Your Standing Order will be adjusted automatically to reflect your new monthly payment if you repay your mortgage from a first direct account. If you don't repay your mortgage from a first direct account, then you'll need to make an adjustment to your standing order to ensure you are making the correct payment during this period.
A: If you use a temporary interest-only period for 6 months, it means that your monthly payments will only cover interest - not the mortgage amount you borrowed.
When the temporary interest-only period ends and you go back to paying your mortgage in the usual way, your payment will cover both the interest and the capital again. But as you'll then have 6 months less in which to pay off the capital, the amount of capital you'll need to pay back each month will be higher.
A: If you've already missed a mortgage payment, these options are not available to you. To discuss your mortgage and other options which might be available please call us on 03 456 100 193 (Lines are open 8am – 6pm Monday to Friday and 8am – 4pm Saturday).
A: Yes, you'll be able to take both options once during the life of your mortgage but we recommend taking these at different times as there will be limited benefit to taking them at the same time.
A: Our tracker and standard variable rates can go up or down at any time. We will write to you to let you know your new interest only payments if this happens.