Mortgages FAQs
Underwriting
How long does an average application take to underwrite?
- On average it will take 2-3 weeks from receipt of your application
How long will I wait to hear about my valuation?
- The valuation is instructed once we have validated all your application information
How will I know if my mortgage application has been approved?
- When you receive your mortgage offer this is confirmation that we have approved your mortgage application
Existing mortgage customers
How can I pay my monthly mortgage amount?
Our preferred method is Direct Debit and you can click here to print off the form. If you do not wish to pay by Direct Debit you can make your payment at any of our branches. Alternatively you can pay via internet or telephone banking if your bank account is set up for this. Our bank details are:
NatWest Bank
Sort code: 60-80-09
Account number: 96875364
Please ensure that you quote your mortgage account number as the ‘reference’ – your payment will not reach your mortgage account if you don’t.
Please allow 3 working days for your payment to reach your mortgage account.
Can I have details of interest paid on my mortgage last financial year for the Inland Revenue?
- Yes, please call us on 0115 9564704 and we will arrange for a certificate of interest to be sent to you.
Can I change my monthly mortgage payment date?
- Yes, please call us on 0115 9564704 and we will arrange this for you.
Can I change the bank account I pay my mortgage from?
- Yes, you can download the direct debit form by clicking here.
When will I receive my annual mortgage statement
- We post annual mortgage statements in mid January
My current mortgage product has come to an end, do you have other products available for existing mortgage customers?
- Yes we have a wide range of products available for existing mortgage customers, please call us on 0115 9564704 to discuss these.
Can I change my mortgage from Repayment to Interest only?
- Please contact us on 0115 9564704 to discuss this.
Can I change the term on my mortgage?
- Please contact us on 0115 9564704 to discuss this.
Can I rent out my property?
- We can sometimes agree to this please contact us on 0115 9564704 to discuss this further.
Can I make over payments on my mortgage account?
- Please call us on 0115 9564704 to discuss this
What is the minimum capital payment I can make?
- The minimum payment is £500. Please ensure you state this is a capital payment to ensure this is recorded on your account
When I make a capital payment when is the interest re-calculated from?
- The interest is re-calculated from the day following the capital payment.
When is the best time to make a capital payment?
- You can make a capital payment at any time during the year. There is no need to delay making a capital payment until the last day in the year as interest is calculated from the following day after the capital payment is received.
Redeeming your mortgage
When will the last mortgage payment be collected prior to redemption?
- Please call us on 0115 9564704 to discuss this
Why do I have to pay interest to the end of the month if I have an annual interest account?
- Please refer to the leaflet ‘Your Mortgages – general conditions’ which explains how annual interest is calculated or call us on 0115 9564704.
If a Direct Debit has been taken after I redeemed my mortgage, when will this be returned to my bank?
- It will normally take 6 working days from the date that the Direct Debit was credited to the mortgage. An overpayment usually takes 3 working days to reach a bank account once the payment has left us.
