Change your mortgage details

If you want to make some changes to your mortgage, we're here to help.

There may be a time when you want to add, remove or replace someone on your mortgage. This is known as a Change of Parties (CoP) or Transfer of Equity (TOE).

Your request will be treated as a new application. We’ll need to make sure you can still afford to pay your mortgage and your credit payment history is still good. We’ll also check the details of anyone being added. Just get in touch to get the ball rolling.

You’ll also need a solicitor to sort out the legal paperwork and will likely have to pay them for their help.

If you have a homeowner mortgage with us, there may come a time when you want to move home but keep your property and let it out.  You’ll need to apply for our approval to do this. We’ll review your circumstances and decide whether you can let out your property. Letting your home with our approval is known as a Let With Consent (LWC).

Before asking us if you can let your home, we ask that:

  • Your current mortgage is at least 12 months old
  • All of your mortgage payments have been paid on time
  • If your property is a flat or maisonette and fire risks have been previously identified, you can provide your tenant(s) with a copy of the latest Fire Risk Assessment Report for the building address of your property
  • Your property is not a licensed or unlicensed House in Multiple Occupation (HMO). Please contact your local authority for details.

Letting us know

If you meet the above requirements, please read our Tenancy Pack. This document gives more details about letting out your property. Please send us your request by completing the form at the back.

Download Tenancy Pack

Or if you prefer, ask us to post it to you.

Let With Consent fee:

To give our approval, you must also pay a LWC fee.

  • Find how much you need to pay in our Tariff of Mortgage Charges
  • The fee must be paid before we’re able to look at your request
  • Please pay online once you’ve sent your Tenancy Pack, or include a cheque when you send it
  • If you pay the fee and we don’t approve your request, we’ll refund the full amount
  • This is an annual fee so if we approve your request, you’ll need to pay the fee each year that your property is let.

Need a new rate or want to borrow more whilst your property is let?

If your property is let and you want to change your rate or borrow more, you’ll have to switch your homeowner mortgage to a Buy to Let mortgage. This means:

  • You’ll need to submit a new application
  • You and your property must meet our lending policy
  • A valuation will be required – a valuer will visit the property and tell us whether its suitable for letting and for how much. You’ll have to pay a fee for this, unless the cost is free with your new rate. See our Tariff of Mortgage Charges
  • You must have a solicitor in place to deal with the legal paperwork which you’ll also have to pay for.
You may be able to shorten the length of your mortgage, known as reducing your term, to pay it off sooner. This means your monthly payments will be more. You must make sure you can afford the higher amount before making any changes.

Use our calculator to see how a shorter term could affect your payment.

Term calculator

Once you’ve reduced your term, you may not be able to increase it again.

You can reduce your term in three ways:

  1. Ask us – get in touch to talk through your circumstances
  2. When making an overpayment – these are extra payments made on top of your monthly payment. You can’t reduce your mortgage term when you make an overpayment and you’ve applied to switch your rate. Visit our overpayments page for more details.
  3. When you apply for a new mortgage rate – you can reduce your term when you apply for a new deal. You can do this through your hub or give us a few details and we’ll be in touch.

If you have a repayment mortgage, you may be able to extend your term to reduce your monthly payments. We’ll need to check your new term is still affordable, particularly if it extends past retirement age. To extend your term, get in touch.

If you’re worried about making your mortgage payments, it’s really important to let us know. Talking to us about your financial situation makes it easier for us to help you. Visit our help and support section for details.