Changing your payment splits, payment day, or setting up a recurring overpayment?

If you're within 5 working days of the start of your next payment period, these changes won't take effect until your next payment cycle.

Many mortgage lenders use calendar months as the underlying structure for their accounting. You'd make one payment in January, one payment in February, and so on.

Instead of calendar months, we use payment periods. When your payment period starts depends on when your mortgage completes.

For example, if your mortgage completes on the 10th of the month, your payment period would run from the 10th of each month to the 9th of the month that follows.

We lock any changes to your upcoming payment period 5 working days before it begins.

Here's what this looks like in practice.

Say your upcoming payment period runs from the 10th of June to the 9th of July.

You'd need to make your change before the 4th of June. If the 4th of June falls on a weekend or a holiday, you'd need to make your change by the working day prior.

If you do this, your change will come into effect from the payment period that begins on the 10th of June.

If you don't, your change will come into effect from the payment period that begins on the 10th of July, for your next payment period.

The changes this includes are:

If you're unsure when a change will come into effect, reach out to us: