If your interest rate and mortgage payment have gone down, you might want to take advantage of the situation and pay some extra off your mortgage. You could:
Whatever you decide to do, it would mean that you pay less interest overall.
If I make regular extra payments how will they affect my mortgage?
Regular extra payments will reduce the balance and the interest you're being charged will go down.
If you'd like to make regular extra payments by keeping your monthly payment the same, or even increasing it, you can let us know by using our downloadable form .You can also use the form if you want to change or cancel any existing extra payments you are already making.
Use our regular extra payments form - 
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You can pay lump sums off your mortgage whenever you want. Please note that in some cases a small administration fee or Early Repayment Charges may apply.
Find out more about how to make a one-off extra payment
An Early Repayment Charge applies for some mortgage deals. This means you will face a charge if you make extra payments or change more than a certain amount of the loan's capital balance (as at 1 January) in any one year.
Normally, the limit on any extra payments you can make each year before the charge applies is 10% of the mortgage balance. However, to enable those customers on a variable rate to take advantage of the current historically low interest rates, the overpayment allowance has been doubled until 31 March 2011. This means if you have a variable rate mortgage subject to an Early Repayment Charge you can pay up to 20% of your mortgage balance before incurring the charge, unless you go on to repay or change the rest of the loan within the next six months. The charge varies, depending on how long you have left on your mortgage deal.
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