If a fixed interest rate applies to your mortgage, it will not change until you get to the end of the agreed fixed rate term. You will then usually revert to one of the variable rates detailed below. We will write to you to inform you of your new interest rate and payment at least …
What happens if I can’t pay back my interest only mortgage?
We’ll try to get in touch with you to understand your circumstances. We’ll assess your financial position and look at ways to help you pay back the remaining balance. If this isn’t possible, you may need to sell your property. If we can’t get in touch with you, we may have no choice but to …
Why do I need to have a repayment plan to pay off my interest only mortgage?
If you don’t, you might not be able to pay off the amount you borrowed by the end of the mortgage term. If you have a repayment plan, you need to check it regularly to make sure it’s on track. We recommend that you do this at least once a year. If you don’t have …
What is an interest only mortgage?
The monthly payments you make only cover the interest. This means you need to pay off the amount you borrowed by the end of the mortgage term.
How do I notify you of a bereavement?
You can do this by calling us on 0330 159 7152. Phone lines are open between 8:30am and 6:00pm Monday to Friday. Or by writing to us at: Landmark Mortgages, PO Box 115, Skipton, BD23 9FE. Find out more about the process in our Bereavement section.
How do I make a complaint?
We’re sorry if we haven’t got things right. You can tell us by:
What happens when my payment arrangement ends?
We’ll write to you a month before the payment arrangement ends. If you’re still in financial difficulties we’ll need to review your situation and agree a new arrangement.
Why have I received a Notice of Sums in Arrears (NOSIA) when you have agreed a reduced payment arrangement?
Following changes brought in by the Consumer Credit Act 2006, we must tell you that your account is in arrears. We will send a subsequent notice if your account remains like this for six months. The notice does not affect temporary reduced payment arrangements.