Worried about your mortgage payments?

first direct, along with other banks, has agreed to the commitments of the Mortgage Charter Opens an overlay [Will show a security message first] released by the UK government in June 2023. The charter sets out how banks give customers additional flexibility with their mortgages.

The Mortgage Charter says that customers can:

contact their bank to discuss options for support without affecting your credit score
extend their mortgage term, with the option to reverse it within 6 months
choose to pay only the interest payable on their mortgage for a 6-month period.

Accessing the government’s mortgage charter support will not result in any affordability checks, or any marker being added to your credit file. Factual changes will be reflected, such as any changes to monthly payments or terms, but these will not impact your ability to apply for credit longer term.

Separately from the charter, first direct already offers the option of switching your mortgage rate. We won't need to check your eligibility or credit rating, so switching doesn't affect your credit score either.

It's important to make sure that any changes you make to your mortgage are right for you. We've outlined your options here but if you have any questions, call us on 0800 389 8347 and we'll be happy to help. Lines are open: Mon to Fri 8am to 8pm, Sat 8am to 6pm and Sun 9am to 6pm.

A chat about your options won't affect your credit score, so the sooner you get in touch with us, the sooner we can help.

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^{If you've already missed a mortgage payment, our money worries page has guidance on what to do next.}

^{If you haven't missed a payment yet but feel you would benefit from a reduction in your monthly payments for a 6 month period, please read through your options to find out which one might be the best for you.}

Explore your options

Temporary interest only payments

If you have a Repayment mortgage but feel you would benefit financially from a reduction in your monthly payments, you may be able to change your monthly payment to just pay the interest for 6 months. After the 6 months, you'll go back to repaying both capital and interest. Find out more about temporary interest only payments.

Extending the term

You may be able to extend the term (length) of your mortgage. This could help reduce your monthly payments. Learn more about extending the term.

Frequently asked questions

Will using a temporary interest-only period or extending the term (length) of my mortgage affect my credit score?

We won’t add any marker to your credit file where you use the options under the Mortgage Charter. Any changes to your monthly payment are reported as standard. Your credit score is owned and calculated by the Credit Reference Agency.

Do I need to cancel or amend my standing order?

Your Standing Order will be adjusted automatically to reflect your new monthly payment if you repay your mortgage from a first direct account. If you don't repay your mortgage from a first direct account, then you'll need to make an adjustment to your standing order to ensure you are making the correct payment during this period.

Why could my standard monthly mortgage payment be higher after a temporary interest-only period?

If you use a temporary interest-only period for 6 months, it means that your monthly payments will only cover interest - not the mortgage amount you borrowed.

When the temporary interest-only period ends and you go back to paying your mortgage in the usual way, your payment will cover both the interest and the capital again. But as you'll then have 6 months less in which to pay off the capital, the amount of capital you'll need to pay back each month will be higher.

I've missed a mortgage payment. What are my options?

If you've already missed a mortgage payment, these options are not available to you. To discuss your mortgage and other options which might be available please call us on 03 456 100 193 (Lines are open Mon to Fri 8am to 8pm, Sat 8am to 6pm and Sun 9am to 6pm).

Can I take both the temporary interest only payments and the term extension with option to reverse?

I am on a tracker or standard variable rate - what happens to my interest only payment if interest rates change?

My fixed or tracker rate mortgage ends within the next 6 months. Can I extend my term or make temporary interest-only payments during this period?

Helpful guides

More options

We’re here to help with information on how you can reduce and manage your monthly payments.

Existing customers

If you already have a first direct mortgage, our existing customer page contains lots of information about how to get support

Money worries

Have a look at our money worries page where we have useful guides and answers to FAQ's.

Cost of living

Balancing the cost of energy, food, rent and fuel can be tricky. Here, you'll find ideas on how to manage your spending and ways to reduce the stress.