Repayment options – repaying in full

If you’ve taken a mortgage payment break, before this ends we’ll let you know all the options available to you to make up the agreed missed payments. One of your options is to repay in full.

Repaying your missed payments

We want to make ending your mortgage break as easy as possible and one of your options could be to repay in full, if this suits your circumstances.

  • You won’t pay any extra interest over the mortgage term doing this
  • You’ll pay your mortgage off in the same time
  • If you do want to choose this repayment option you’ll need to let us know by the cut-off date in your letter or we’ll apply the auto option for you


Here’s how you can do this

We’ll tell you what the amount will be in the letter we send you at the end of your payment break and you can make the payment online using online banking.

Payments should be made to:

  • Aldermore Bank, Account Number 90261971
  • Sort Code; 20-19-90
  • You’ll need to include your mortgage account number as the reference

How will this impact my monthly payments?

When your payment break ends, your monthly payments will be the same as they were before you took a mortgage payment break.

Your mortgage balance and remaining term won’t change.

Here’s an example of how this would work:

Bill has a repayment mortgage of £160,000 on an interest rate of 4.00% and has 24 years and 1 month left on his mortgage. His monthly payment before he took a payment break was £863.32 each month.

After a 3 month payment break, Bill decided to repay the agreed missed payments in full, so his monthly payments after the payment break stayed the same as before and he wasn't charged any additional interest over the term of his mortgage.


What happens next with my payment break?

We'll write to you before the end of your payment break with all of the information you'll need. In that letter we'll let you know:

  • What options are available to you including a personalised example of how each option will impact your mortgage payments
  • If you want to repay the missed payments in full, we’ll let you know what this cost is and how to repay
  • All other payment options available to you
  • If you want to choose another option, we’ll let you know the date you need to let us know by
  • When your mortgage payments will restart. For example, if you took a three month payment break over April, May and June, then your next payment will be start in July
  • Once you’ve chosen an option we’ll write to let you know we’ve updated your account and re-confirm your new monthly payments.

How to contact us

The best way to contact us at this time is by email or request a call back. Please check out our frequently asked questions above before contacting us, we’re updating these regularly with the questions our customers are asking us.

If you're a commercial mortgage customer you can find out more information here. 

Subject to status. Your mortgage will be secured on your property.  Your property may be repossessed if you do not keep up repayments.