Is all or part of your mortgage with us interest only? If so, then your mortgage payments only cover the interest you owe on your mortgage. The money that you borrowed (the capital) also needs to be repaid at the end of the mortgage term.

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If you need help

Your interest only mortgage. Do you know how you will repay it?

We want to help you make sure you can repay your mortgage when the time comes. However near or far that time is, it’s a good idea to check your plans are on track. Your plans to repay your interest only mortgage are sometimes called the “repayment strategy”. Checking this will help you to have peace of mind. And if there is anything you’re concerned about, we can help.

Call us or fill in a form with your repayment strategy.

Please let us know how you plan to repay your mortgage. You can call or complete our online form. We’ll need all of the account holders details. Whether you plan to call or complete our form, first gather the paperwork with details of your repayment plans.
Call 0333 414 1110 if you’d like to speak to an adviser about your repayment strategy.
9am to 5pm Monday to Friday
9am to 1pm Saturday
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.
To share your repayment strategy online, fill out our online form. You can also request a call back if you’d like to discuss your plans. We aim to get back to you within two working days. 

 

Repayment Strategies 

Repayment (Capital and Interest)

Your monthly payment includes both interest and capital.
If you make all your payments, the mortgage will be repaid at the end of the term.

Interest Only information for existing customers 

If you're new to Yorkshire Building Society you can find out more about our Interest Only mortgages here.
Are you considering making a change to your mortgage? Do you want to keep the Interest Only repayment method? If so, we’ll need to check that we’re happy with your repayment strategy. The types of changes you might consider are:
Moving to a new mortgage deal.
Transferring your mortgage to a new property.
Changing one of the parties (people) named on the mortgage.
Interest only mortgages are not repaid in full by making the monthly repayments. Those payments are for the interest on the amount of money you borrowed. You will need to pay back the amount you borrowed, sometimes called the capital, at the end of your mortgage.
You need to check the plans that you have to repay your mortgage are on target. Make sure that whatever you are relying on will provide enough money to repay your mortgage.

Existing customers – repayment strategies.

Here are the repayment strategies that we are happy for you to use. Remember, you need to to pay back the full amount you borrowed.

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
Overpayments
Savings

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

Sale of mortgaged property at the end of the term
Savings
Existing Endowment
General Investments
Pension Lump Sum
Sale of other UK property 
If you want to use a repayment method that isn’t listed here, please get in touch.

Product Information.

We do not have specific products for Interest Only. Interest Only is a way of repaying your mortgage, not a mortgage product. Most of our products can be paid back on an Interest Only basis if we agree this. You can also have part of your mortgage on Interest Only and part on Capital and Interest.
Call us
Chat to our mortgage specialists about your options.
9am to 5pm Monday to Friday
9am to 1pm Saturday
Calls to 0800 numbers are free of charge from a landline or mobile.
Book an appointment
Book an appointment and we'll call you back.