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Increasing your monthly payment amount
If you’d rather not capitalise your missed payments, which could mean you reduce the amount of interest charged over the term of your mortgage, we can make arrangements with you to increase your normal monthly payment amount so that you repay the capitalised amount over a shorter period of time. This will reduce the amount of interest charged over the term of your mortgage, as a result of the payment deferral. The quickest way for you to request this is to complete our opt out of capitalisation form below.
We'll contact you within 5 to 7 working days to confirm your new monthly payment.
About your request
We’ve put together some important frequently asked questions and answers that you need to be aware of.
For information on how we, credit reference and fraud prevention agencies use your personal data and on your data protection rights please read our Privacy Notice.
Please confirm that:
You and anyone else named on the mortgage are aware that:
- By completing this form you are certifying that you can afford to pay the amount you've suggested.
- The capitalised amount is the unpaid interest that has accrued during the term of the payment deferral.
- You acknowledge that interest will continue to be charged on the capitalised amount until it is repaid in full.
- Until the capitalised amount is repaid it will remain as part of your capital balance.
- If you pay by Direct Debit we'll amend the amount we'll collect to include the figure stated on your opt out form. If you pay by another method (bank transfer or standing order) you'll need to add the amount stated on your opt out form to the revised repayment, following the rate change.
- We'll continue to collect the additional amount for the period detailed in the opt out form.