Mortgage payment break calculator

Use the calculator below to see the financial impact of taking a mortgage payment deferral. It’s important to understand how this will affect your mortgage payments before making your decision.

This illustration is based on adding the agreed missed payments and interest to your mortgage balance and spreading the cost over the remaining mortgage term.

Mandatory*

Mortgage Payment Deferral Calculator

Please complete the form below to see the financial impact of taking a mortgage payment deferral. It’s important to understand how this will affect your mortgage payments before making your decision. This illustration is based on adding the agreed missed payments and interest to your mortgage balance and spreading the cost over the remaining mortgage term.

Please select one of the options.

This is your agreed monthly mortgage payment before any overpayments. If you make overpayments, this calculator won’t work for you. You’ll need to contact us to calculate your monthly payment after a mortgage payment deferral.

Please enter a valid currency value between £0-£100,000.

This is roughly how many years/months you have left to repay your mortgage in full.

Please enter a valid numeric value. Maximum number of years is 40.

Repayment (also known as capital and interest) is where you pay off the mortgage balance and interest in full over the mortgage term. Interest only is a mortgage where you only pay the interest throughout the term, then repay the borrowing amount when the mortgage ends. If you have a part and part mortgage, we’ll need to speak to you to discuss your application.

Please select one of the options.

Please select one of the options.

Please calculate to continue.

You need to be aware of the implication of agreeing to a mortgage payment break.

You’ll need to make up the payments later in your mortgage term. We’ll work with you to find the best way to do this at the end of your payment break.

Taking a mortgage payment break won’t negatively impact your credit file during your mortgage deferral period. But it’s important to know that lenders may use information obtained from other sources, such as bank account information, in future lending decisions.

Arrears will accrue and will need to be repaid at a future date. We’ll discuss the options available to you near the end of the agreed period; when your payments start again you may see an increase in your monthly payment.

The total amount of interest owed on the mortgage will increase, as the amount you owe the bank increases.

If you are already in a payment shortfall and a payment break is agreed the arrears balance will increase by the value of the payments deferred during the break.

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