Change your mortgage term

There may be a time when you want to change your mortgage term.

This might be because:

  • You think you can afford to pay more and would like to pay off your mortgage sooner; or
  • You want to reduce your monthly payments by extending your mortgage term

You need to call us to make a change to your mortgage term

Before you can make any changes to your mortgage term, you need to speak to us first. We'll explain the effect that any change to your mortgage term will have on your payments and the amount you owe. Extending  your mortgage term will increase the amount of interest we charge because the loan will take longer to repay. This means the loan's cost will be higher.