If you already have a C&G mortgage you might have a few queries. We have listed a few questions here.
However, if you cannot find the information you are looking for, please feel free to ask us a question.
In most cases your interest rate will switch to the Standard Variable Mortgage Rate, which at that time, could be higher or lower than the rate you will have been paying and may vary over the remaining term of your mortgage. See the current Standard Variable Mortgage Rate.
It’s easy for existing mortgage customers to switch to a new deal. You can request a deal online, by calling us or visiting your local branch. More information about switching deals.
You can apply to borrow more on your mortgage so long as it's been at least six months since you took it out or last borrowed on it, e.g. with a Homeowner Loan. However, you might not be able to take out this new loan at the same interest rate as your mortgage. It all depends on the level of rates at the time. They could be higher or lower.
The most you can borrow in total is 80% of the value of your home. This means that the amount of your existing C&G mortgage and your new loan added together cannot be more than 80% of the value of your home.
Talk to a Mortgage Specialist, call 0800 783 3534* or start your application online.
In certain circumstances, and if your mortgage is up to date, you can pay less than the full monthly mortgage payment that is due, or even suspend your payments for a short time, although you may need to pay a charge. If you would like to know more about taking a payment holiday or an instalment break call 0845 603 1637* 8.30am to 9pm Monday to Friday, or 8.30am to 1pm on Saturdays.
If your existing mortgage is calculated on an interest-only basis, you can ask to change your mortgage to a repayment basis at any time. If it's set up on a repayment basis, you can only switch it to interest-only if your total mortgage amount is 75% or less of your property’s value. In either case there is a charge. For full details see our fees and charges.
Although you can normally only switch to interest-only if your mortgage totals 75% or less of your property’s value, if you are ever facing financial difficulties and, as a way of temporarily reducing your mortgage payments, you want to discuss just paying the interest each month for a while on a mortgage that totals more than 75%, please get in touch. If you are facing financial difficulties but haven't actually fallen behind with your mortgage payments, please call 0845 6031 637. Or, if you have fallen behind with your payments, please call 0800 3894 020.
Tell us as soon as possible if you are having problems repaying your mortgage or think that you might experience problems shortly. If you think you may be facing difficulties but haven't fallen behind with your mortgage payments, please call 0845 6031 637. If you have already fallen behind with your payments, please call 0800 3894 020.
Whichever mortgage you choose, you can make one-off or regular extra payments to reduce your capital balance and therefore pay less interest in total. Even during an Early Repayment Charge period, you can still repay up to 10% of the mortgage each year (based on the balance at 1 January) and the charge won't apply. You may need to pay a small fee to do this. For full details see our fees and charges.
You can repay your mortgage at any time, although there may be a period during which an Early Repayment Charge applies. You will also need to pay a closing administration charge unless you entered into your mortgage loan agreement is on or after 1 August 2007.
You'll receive your annual mortgage statement in January or February. The statement will show the payments, interest and, if applicable, the insurance premiums. If a fee has been debited to your account during the year, you will also receive a statement of your Fees and Charges account. You'll also receive an interest rate history and a redemption figure for each loan for information purposes only.
If you would like to request a duplicate or you haven't received your statement, call 0845 603 1637* 8.30am to 9pm Monday to Friday, or 8.30am to 1pm on Saturdays. There is a £22 charge for each duplicate statement we provide.
If you have more questions about your current mortgage please ask us a question or contact us.
Copyright © 2008 Cheltenham & Gloucester plc. All rights reserved.
C&G mortgages are provided by Lloyds TSB Bank plc and administered by us, Cheltenham & Gloucester plc. Registered office: Barnett Way, Gloucester, GL4 3RL. Registered in England and Wales No.2299428. Cheltenham & Gloucester plc is authorised and regulated by the Financial Services Authority and a signatory to the Banking Codes.
You must be at least 18 years old to take out a loan. Before agreeing a loan Lloyds TSB Bank plc will want to satisfy themselves about the suitability of your application. This will include assessing your ability to afford the payments and, normally, valuing the property.
* We may monitor and/or record telephone calls in case there's a need to check that your instructions have been carried out correctly and to help improve our service quality.
