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HomeMortgagesExisting Mortgage CustomersExtending your mortgage term

Extending your mortgage term

If your payments are up to date, you can extend the term of your mortgage. This will reduce your monthly payments because you’ll be spreading them over a longer period.

There won’t be a new affordability check (to examine your income and outgoings), and your credit score won’t be affected. And within six months of switching to a longer term, you can switch back to your original term if you want to.

It is important to know that taking longer to repay your mortgage will increase the total amount of interest that you will pay. If you can afford to pay your mortgage payments now, you should think very carefully before making changes, as they will cost you more in the longer term.

Who can extend their mortgage?

You can extend your mortgage term if all of the following apply to you:

  • You are up to date with your mortgage payments, and do not have any arrears.
  • You have a residential mortgage (it is not available for a buy-to-let mortgage).
  • You don’t already have an interest-only mortgage.
  • Your new mortgage term will still finish before your expected retirement age.

Repayment calculator

You can use our repayment calculator to see how your payments will change if you increase your mortgage term. You’ll need to have the following information to hand:

  • The current interest rate of your mortgage.
  • Your remaining mortgage balance – you can find this by logging onto H&R Online (if you are registered) or from your last annual mortgage statement.
  • The remaining term of your mortgage.

You can input this into the calculator and then update the term to see how your payments would change if you extended your mortgage term.

What if I change my mind after I have extended my mortgage term?

If you change your mind within six months, you can change back to the original term (from 15 more years back to 10 more years, for example). 

Changing back to the original term will mean making higher monthly payments, but you will pay less interest in the long-term because the term will be shorter again.

It is important to know that the new monthly payments will be different to the original monthly payments. This is because they will be calculated on the new total outstanding balance, which will have changed since you started the arrangement.

To change back, you will just need to contact us on 01455 412685, Monday to Friday, 9am to 5pm – or by email at