Why has my balance increased on my mortgage?

If you've borrowed more from us in the past year, this money will appear on your statement.

If you've decided to have a fee added to the account, you will be charged interest from the day it's debited to your account.

Also, your initial mortgage payment may have been calculated on the amount borrowed, which may not have included the product fee. This means your mortgage payment may rise when the fee is added and your new payment is calculated. For example, this may happen following an interest rate change.

If your December monthly payment reaches us after 31 December (because of public holidays over the festive period), it will be credited in January.

You can call us on 0800 121 8899 and change the date your payment is collected to prevent this happening again.

If you've missed any of your mortgage payments, in part or in full, the interest that's been added is calculated on the total balance outstanding. This will include your missed payments and any fees that may have been charged to the account.

If you take a payment holiday, the interest that hasn't been paid during this time will be added to the balance of your mortgage. You'll pay this back over your remaining term - unless you told us you wanted to make other arrangements. This could include making a lump sum payment or regular overpayments, changing your term or mortgage product.

If you took a payment holiday as a direct result of coronavirus, we won’t charge you any arrears fees or report this to credit reference agencies.