If your mortgage, or part of your mortgage with Yorkshire Building Society, is an interest only mortgage, then your monthly mortgage payments only cover the interest you owe. The money you borrowed (the capital) still needs to be repaid separately at the end of the mortgage term.

Interest only mortgage: Your repayment plan

As a responsible lender who puts customers at our heart, we want to help you make sure you can repay your mortgage, so we have been contacting all our customers to find out what their strategies for repayment are. Our work is also consistent with guidance from the Financial Conduct Authority (or FCA - who regulate mortgages) who have told mortgage lenders that it's good practice for us to contact customers regularly to make sure they know what their options are.

What to do if you need help?

Please provide us with details of how you intend to repay your mortgage. You can do this by calling us on the number below or you can complete our online form. We'll need to take details for each of the account holders named on the mortgage as well as the details of any repayment strategies that you have in place.

If you would like to talk to one of our advisers please call us on free phone 0800 138 1009. Alternatively you can request a call back by using the online form below. (Please note, we will endeavour to call you back within 2 working days).

Repayment (Capital and Interest)

  • With this type of mortgage the borrower's monthly payment will include elements of both interest and capital.
  • Provided all payments are maintained the loan will be repaid at the end of the term.

Interest Only

  • Existing customers looking to transfer to a new mortgage deal, port (i.e. transfer) their mortgage product to a new property or change the parties on the mortgage can maintain an Interest Only repayment method, if an acceptable repayment strategy is in place.
  • If all or part of your mortgage is on an Interest Only repayment basis, please be aware that making your monthly mortgage payments and compliance with the other terms and conditions of your mortgage contract will not ensure that the loan will be fully repaid at the end of the term.
  • It is important to ensure that you regularly review the adequacy and performance of your chosen repayment strategy.
  • If you're new to Yorkshire Building Society you can find out more about our Interest Only mortgages here.

Acceptable repayment strategies for existing customers are as follows:

Existing customers who took out an Interest Only mortgage with us before April 2019:

Existing Endowment
General Investments
Pension Lump Sum
Sell main residence and downsize

Existing customers who took out an Interest Only mortgage with us after April 2019: 

Sale of mortgaged property at the end of the term
Existing Endowment
General Investments
Pension Lump Sum
Sale of other UK property

Any criteria not included in the list above will be considered on a case by case basis.

Product Information
We do not offer specific Interest Only products.
You will be recommended products from our range and choose how much you borrow on interest only and /or capital and interest basis. You may borrow on an Interest Only basis, or part Interest Only and part Capital and Interest basis.

Call us

Speak to one of our friendly advisers about your options.

9am - 5pm Mon-Fri
9am - 1pm Sat