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To find out how making interest only payments will impact your mortgage, please enter your details into our calculator.
You’ll be able to find the information we need in Internet Banking or our mobile app.
If you have multiple sub-accounts, you’ll need to enter their details individually and add the payment amounts together. What are sub-accounts?If you’ve made any changes to your mortgage, it could be a mix of different interest rates, terms, and balances. These are known as sub-accounts. Each sub-account has its own individual monthly payment, which we add together to make up your total monthly mortgage payment. You’ll be able to find out if you have sub-accounts in Internet Banking or our mobile app.
You must have at least 6 months left on your current mortgage to apply to switch to interest only payments.
Once your interest only payments have finished, the amount you pay each month will go up.
Your current monthly payment amount:
While making interest only payments, you’ll pay:
After six months of interest only payments, you’ll pay:
Remember to add the details of any sub-accounts individually and add them together to get your total monthly payment.
These figures are for illustrative purposes only.
We use the following assumptions in the calculations: