If your financial circumstances improve, you may wish to pay your mortgage off more quickly, either by paying a little more each month or by paying a lump sum.

It may be possible to make lump sum payments or overpayments to your mortgage, but this will depend on the mortgage product you have chosen. Some products carry an early repayment charge, so you should check the terms of your mortgage offer very carefully before making any lump sum payments.

A lump sum of £500 or more over your normal monthly payment will be treated as a capital repayment and could therefore attract an early repayment charge.

If you are thinking of making an additional payment of £500 or more to your mortgage, contact us first to find out how an overpayment or lump sum payment would affect your account.

Details of early repayment charges are specified on the mortgage interest rates sheets.