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.

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 to make an appointment with a Mortgage Arranger so we can agree a solution with you. The contact details are: Jersey 0345 730 9461 Guernsey/Alderney 0345 730 9373 Isle of Man 0345 730 1280. Lines are open 7am – 11pm, Monday – Friday 8am – 4pm, Saturday. Or alternatively complete our contact form.

To find out how much you need to repay

You need to talk to us now.

You’ll need to call us on 01624 657500. Lines are open Monday to Friday 9am - 5pm UK time. 

Common ways to pay off your interest-only mortgage

Call us to make an appointment with a Mortgage Arranger on: Jersey 0345 730 9461 Guernsey/Alderney 0345 730 9373 Isle of Man 0345 730 1280

Lines are open 7am–11pm, Monday–Friday 8am–4pm, Saturday.

Or alternatively complete our contact form.

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, call us to make an appointment with a Mortgage Arranger on: Jersey 0345 730 9461 Guernsey/Alderney 0345 730 9373 Isle of Man 0345 730 1280. Lines are open 7am–11pm, Monday–Friday 8am–4pm, Saturday. Or alternatively complete our contact form. 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 second property

You can sell your 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.

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 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.

Pensions

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.

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: