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Your options

We won’t provide any recommendations or assess your income and outgoings. We’re here to give you clear information to help you make the right decision.

Please make sure you carefully read through all the information about each option before you apply for any of them.

Your property could be repossessed if you don't keep up your mortgage repayments.

Make interest only payments

Temporary Interest Only means that you'll only pay the monthly interest up to six months. There won’t be a reduction in your mortgage balance during the agreed period. The overall cost of your mortgage will increase.

Some things to bear in mind

  • Your monthly payments will reduce for a short period
  • Your payment will increase when the Interest Only period ends and will be higher than your current payment
  • The overall cost of your mortgage will increase
  • As interest rates change your payment may change

Extend your mortgage term

Term Extension means extending the term of your mortgage so that you’ll pay less each month. If you extend your mortgage term, you’ll pay more interest and the total cost will be more.

Some things to bear in mind

  • Your monthly payments will reduce
  • Your mortgage will take longer to pay off
  • The overall cost of your mortgage will increase
  • As interest rates change your payment may change

You're eligible to proceed online if:

  • Your mortgage payments are up to date
  • The mortgage you want to change is secured on your residential home
  • Your mortgage is on capital and interest repayment method
  • For Term Extensions, your term must not extend beyond retirement (maximum retirement age 70)
  • Maximum term doesn’t exceed 40 years (Term Extension only and from the original mortgage start date)
  • You've made at least one mortgage payment

We’ll need a few details from you about your existing mortgage so we can give you an example of what your payment could be.

Calculate and Apply will take you to a third party calculator for your example payment followed by a Leeds Building Society log in if you decide to proceed.

You need to speak to us first if:

  • Your current mortgage deal ends within six months
  • Your payment is not collected by Direct Debit
  • If your mortgage has more than one part
  • You have a Shared Ownership mortgage which needs consent from another party such as a housing association (Term Extension only)
  • You have less than 12 months remaining on your mortgage term
  • You're currently on a variable rate mortgage with no early repayment charges. A product transfer may be more appropriate for you.

Our dedicated Mortgage Charter number is 0800 072 8738

Your Mortgage Charter questions