Repayment options
If you are an existing customer and you have any concerns about repaying the remaining balance by the end of the mortgage term, a range of options may be open to you, including:
- Conversion of the mortgage to a repayment mortgage
- Conversion to a Part and Part mortgage
- Extension of the term of the mortgage, together with one of the above
- Repayment of lump sums to reduce the remaining balance
- Regular overpayments to reduce the remaining balance gradually. See the Flexible Payments Calculator.
- Switching to a new product with lower monthly payments in conjunction with any of the above. An illustration of the new product will be provided to you and will be subject to availability and current lending criteria. There may be fees payable for certain products
Any changes will be subject to the terms and conditions of your existing mortgage including any Early Repayment Charges, if applicable, and our current lending policy. Please refer to your original mortgage offer for details or contact us.
Please call our Mortgage team on 0345 607 9825 to discuss the options which are available to you with Skipton.
Helpful information regarding interest only mortgages, including budget calculators, is also available from the MoneyHelper website.