The mortgage payments you make every month often consist of more than interest alone. Among other things, it depends on the type of mortgage you have. You can find your monthly payments in ‘My Mortgage’ and in the statements you receive by post. The amounts may include one or more of the following.
Your mortgage is a loan over which you pay mortgage interest. If your interest is fixed, the interest rate will remain the same during the fixed-rate period. If your interest is variable, the percentage may change every month. For linear and annuity mortgages, the interest amount will drop because you’re repaying part of your loan every month.
If you have a linear or annuity mortgage, you’ll repay part of the loan every month. This repayment amount is included in the monthly payments.
If you have insurance or a bank savings account with your mortgage, you’ll pay a premium or deposit each month. If this amount appears in your mortgage statement, it is included in the monthly payments. If not, you’ll pay the premium or deposit separately.
Products for which you pay a premium include:
Products for which you pay a deposit include:
If you make any changes to your mortgage, you’ll pay a one-off handling fee for this. This amount is added to your next monthly payment. If you need to pay a one-off advice fee, you’ll receive a separate invoice for this.
Sometimes your first monthly payment for your new or amended mortgage may differ from the amount in your quote. This is the case if:
Check out your monthly payments in 'My Mortgage'.
During the term of your mortgage, your monthly payments will change if:
Check out your monthly payments in 'My Mortgage'.
Your monthly payments are made automatically by direct debit. You’ll always make the monthly payments in arrears, so in February you’ll make the monthly payment for January. The following overview shows you when we’ll collect the monthly payments from your account.
Collection dates for monthly payments in 2024
By completing a direct debit form, you authorise us to debit the amount from your account each month. This is done automatically. If you want to change your account number, you can do this quickly and easily in 'My Mortgage'.
