Payments

Find out everything you need to know about your monthly payments, making overpayments or making your payments more affordable.

We're here to help

If you'd like to check your monthly payment amount or change the date your payment comes out, please use our contact form.

Why was my first payment different / higher to what I expected?

Your mortgage starts on the day we release the funds to your solicitor, which is your completion date. We’ll start to charge you interest from this date. Your first mortgage payment could be higher than your regular payment, depending on when your mortgage starts, and the date of your first payment. You’ll need to make sure you have enough money in your bank account for this first payment. So, it’s a good idea to include this in your budget.

Can I make an overpayment?

You can make over payments up to your annual allowance limit if you're still within your early repayment charge (ERC) period or unlimited over payments if your ERC period has finished. You’ll find details of your over payment allowance, charges and when they’ll no longer apply in your original mortgage offer.

Contact our team on 0333 321 1000 to arrange a one-off payment or set-up regular overpayments.

Alternatively, you can pay by bank transfer or standing order to: sort code 20-19-90, account number 90261971 (using your account number as the reference)

Or post a cheque to: Aldermore, PO Box 363, Wilmslow, SK9 0BT. Please include a covering note with your account number.

I would like to repay the outstanding balance on my mortgage, how can I do this?

When you’re looking to repay your mortgage you or your solicitor will need a redemption statement which you can request using our online form under "How much do I owe on my mortgage?". The validity period will be detailed on each redemption statement, along with any early repayment charges or exit fees.

 

Alternatively, you can email or request in writing.

For residential and buy to let mortgages:

Email: productswitch@aldermore.co.uk 

Request in writing to: Aldermore Residential Mortgages, PO Box 363, Wilmslow, SK9 0BT

For commercial mortgages:

Email: commercialportfolioteam@aldermore.co.uk 

Request in writing to: Aldermore Commercial Mortgages,4th Floor, 40 Spring Gardens, Manchester, M2 1EN

We’ll send you your redemption statement within 3 working days. You can also call our team at any stage for an indication of the redemption figure on 0333 321 1000.

If you are coming to the end of your current mortgage deal you can find out how and when you can switch to one of the latest deals available to you. Just visit our switch your mortgage page to find out more.

How can I pay my mortgage online, if I don’t have a direct debit set-up?

You can pay via online banking to Aldermore Bank, Account Number 90261971, Sort Code; 20-19-90. You’ll need to include your mortgage account number as the reference. We’ll then be able to allocate the payment to your account quickly. You could also set up a standing order to this Aldermore account so your payments are made automatically from your bank each month. Commercial mortgages customer should use: Account Number 13707563 Sort Code; 20-19-90

How do I set up a new Direct Debit?

If you don’t have a direct debit set up with us already, or if you’ve changed the bank account you want to pay your mortgage from then you’ll need to set up a new Direct Debit. Call us on 0333 321 1000 or fill in the Direct Debit form and post it back to us straight away. Information on where to send it is in the form.

How do I change my direct debit payment date?

You can change your payment date after you’ve made your first two monthly payments. We can collect payments on any dates between the 1st and 28th of each month. To request a payment date change, just request this via our online form. Select the option "Can I change my mortgage payment date?".

How will a bank base rate change affect my monthly payments?

The Bank of England Base Rate (BBR) represents the rate at which the Bank of England lends to other financial institutions. It’s reviewed several times a year by the Monetary Policy Committee (MPC), and could impact your mortgage payments, depending on what type of rate you’re on.

You can find out more about the Bank Of England Base Rate and how it may impact your mortgage in more detail here: Rate changes and your mortgage.

I have a buy to let mortgage that now links to the Aldermore Mortgages Transition Rate (AMTR). How will a LIBOR change affect my monthly payments?

LIBOR is the London Interbank Offered Rate which is the average interest rate for inter-bank lending. LIBOR is reviewed every 3 months. However LIBOR is finishing at the end of 2021, and in line with regulatory guidance, we have been using the Aldermore Mortgages Transition Rate as an alternative interest rate from 1 May 2021.

This rate will be calculated by us and will be based on a comparable rate to LIBOR using the Bank of England Base Rate (BBR). Once LIBOR becomes unavailable after 31 December 2021, the quarterly interest rate review will continue as outlined in your mortgage conditions on 15 May, 15 August, 15 November and 15 February. If there has been any change to the BBR during the previous period then this will be reflected in the review and we will write to you to confirm any changes to your interest rate and monthly payments.

Please note that emails sent to and from Aldermore are not secure and could be accessed by an unauthorised person. Whilst we take appropriate measures to safeguard information you provide us, no email can ever be guaranteed secure.

We're here to help Call Us: 0333 3211000

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