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Can I reduce the term of my Mortgage?

Can I reduce the term of my Mortgage?

You can make an application to reduce the term of your mortgage at any time. We'll complete an income and expenditure check as a part of the application to ensure the new payments are affordable for you. There's an admin fee of £35 to amend your term which is due when you make your application. You can request a call back to start your application using our online self service platform 'Manage my Mortgage'. Select our live chat which appears on your screen offering help.

You can find 'Manage Your mortgage' in the Royal Bank of Scotland app or Digital Banking. If you haven't used them yet, here's some guidance (opens in a new window) on how to access them. It doesn't matter whether you have other RBS accounts or just a mortgage.

If an App isn't for you, you can use Manage Your Mortgage(opens in a new window) where you can just see your mortgage account using a one-time passcode.

Overpaying your mortgage doesn't automatically reduce the term of your mortgage. Each time your interest rate changes, or you make a lump sum overpayment of £1000 or more, we'll recalculate your monthly payments over the remaining term of your mortgage.