What to do if your interest-only mortgage term has ended

As you have reached the end of your term, any interest-only parts of your mortgage should have been repaid.

If you think you won't be able to repay all, or part, of your interest-only mortgage – call us today and we’ll help you understand what solutions may be available to you.

Every day we help customers who thought they had no options to make a plan.

If your residential mortgage (not applicable to Buy To Let mortgages) term ends between 20th March 2020 and the 31st October 2021, one option is to delay repaying the full amount until up to 31st Oct 2021.

If your term ends between these dates and you want to discuss this option, call us on the number below.

Please note: If you have missed any payments without our agreement and your account is not up to date, you will not qualify. If you do take the option to delay the repayment of your mortgage, we’ll continue to collect your monthly payments and charge interest until you pay the amount you owe. You can repay at any time before 31st October 2021 and the sooner you do, the less interest you’ll pay.

You must repay everything you owe at the end of your interest-only term. If you can’t do this, your property may have to be sold.

You need to call us so we can agree a solution with you. Call us on 0345 609 8952. Lines are open Monday to Friday 8am - 8pm and Saturday 8am - 1pm.

To find out how much you need to repay

You need to talk to us now.

You’ll need to call us on 0345 609 8952. Lines are open Monday to Friday 8am - 8pm and Saturday 8am - 1pm.

Common ways to pay off your interest-only mortgage

If your mortgage term has ended, and you haven’t yet repaid your interest-only mortgage balance, you need to get in touch today. Call us on 0345 609 8952.

We’ve listed the most common ways below.

Switch to a repayment mortgage, or a part & part mortgage

You may be able to switch all, or some, of your mortgage to a repayment mortgage. To switch to repayment, please call us on 0345 609 8952. We’ll look at your income and how much you spend each month to understand if this is an affordable option for you.

There are three different ways of repaying your loan. These are: repayment, interest only, a combination of repayment and interest only.

Sale of your main or second property

You can sell your main or second property to repay your mortgage balance. It’s important to be realistic about the value of your property, and the time it will take to sell. Find out more about sale of your main or second property.

Sale of a business or other assets

You can sell your business or other assets to repay your mortgage balance. It's important to be realistic about their value.

Savings, Endowment Policies and Investments

You can use any of these to repay your mortgage balance. Look at your statements to understand how much your plans are worth. Find out more about savings, endowment policies and investments.


You can use the lump-sum from your pension policy to repay some, or all, of your mortgage at the end of the term. This will impact the income you'll have when you retire. If you're unsure how this will affect your retirement income, you should speak to an independent financial advisor.

Later life lending solutions

There may be other later life lending solutions available to you depending on your circumstances. Call us today on 0345 609 8952.

Where can I find independent help and advice?

Although we're always here to talk to you about your mortgage, there are other people you can talk to for free and impartial help and advice. These include:

You can find a list of independent financial advisors at unbiased.co.uk.