Mortgage Charter.

Under the Mortgage Charter, there is no fee to extend your mortgage term or to agree an interest only concession with the Society. Some fees may be payable in other circumstances. Please see our Tariff of Charges on our Useful Mortgage Downloads page for more details.

Taking a term extension or interest only concession under the Mortgage Charter won’t affect your credit score, but it could impact your future ability to borrow for a property.

This may be possible. Under the Mortgage Charter, the Society can offer either a term extension or an interest only concession. However, if you have taken one of these options, we can still consider the other option under our normal processes. In some instances, affordability checks may be required.

You cannot extend your mortgage term under the Mortgage Charter if your term has already expired. However, we can consider a term extension in these circumstances under our standard processes. Affordability checks are likely to be required.

Although you cannot extend your interest only mortgage term under the Mortgage Charter, we can consider this under our standard processes. Affordability checks are likely to be required.

In addition to extending your mortgage term, or switching to interest only, you can make changes to how and when you pay your mortgage. . You can also change how you make your mortgage payments. You can choose to pay by standing order, debit card, or bank transfer. Direct Debit payments must be on 1^st, 15^th or 28^th of the month.

Although you cannot extend your mortgage term under the Mortgage Charter if you are retired, or if your term will run into retirement, we can consider this under our standard . This will be subject to an affordability assessment.

Although you cannot take an interest only concession, and also extend your term, under the Mortgage Charter, we can consider this under our standard processes. Affordability checks are likely to be required.