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Mortgage term calculator

This calculator works in two ways. If you're thinking about extending your mortgage term, it can give you an indication of how much your new monthly payments could be. Alternatively, if you're thinking of reducing your mortgage term, it can calculate what your monthly payments could change to.

Before you get started

Extending your term

Extending the term of your mortgage means that you’ll pay back your mortgage over a longer period of time. Use the calculator to get an indication of how this will affect your mortgage.

Reducing your term

If you only need to extend your term temporarily, you’ll have the option to change it back again without having to make a further application, meaning no additional affordability checks.

Use the calculator to get an indication of how this will affect your mortgage.

Remember, you must apply to reduce your term  within 6 months of extending it.

Things to consider

If you have more than one mortgage account, you’ll need to input the figures for each account.

Reduce your term: example

Let's assume you had a mortgage term of 25 years in June 2023. You then extended it under the Charter to 30 years. Then in December 2023, you opted to reverse that extension in part or in full. The shortest term you could choose would be 24 years and 6 months. The longest term you could choose would be 29 years and 6 months. You could also choose any other term between the shortest and the longest.

Further term extension or reduction

If you're looking to extend your term beyond your planned retirement age (or age 70 if sooner), or if you are looking to reduce your term to shorter than the Charter allows you, you'll need to submit a new application. This will require a credit check and affordability assessment. You can do this online or calling us on 0800 169 6333.

Our main information page has more on the Mortgage Charter, along with details of all the options available and how to apply for them.

Calculate your possible new monthly payments

  • you can get the information you need to use the calculator by logging on to online banking
  • the calculator assumes the interest rate will change to the current Standard Variable Rate for the remaining term left on your mortgage, after your current interest rate ends
  • if you have a lifetime tracker or homebuyer variable rate add the same term in the 'Remaining mortgage term in years / months' and 'Remaining years / months on your current interest rate' fields.

The information provided by this calculator is a guide and should only be used for indicative purposes.


Disclaimer: Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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