What’s in this guide

Here you’ll find information about what makes up a mortgage payment and about how you can pay. 


We also explain payment holidays and what to do if you miss a payment.

What's on this page?

What makes up a mortgage payment?

Your mortgage payment is usually made up of three parts:
Capital
This is the amount you borrowed, each payment reduces your loan balance.
Interest
This is the cost of borrowing. At the start of your mortgage, most of your payment goes towards interest, but later you’ll pay off more of your loan.
Additional fees
These are extra costs that may be added to your mortgage, such as application or product fees, which can increase the total amount you repay.
With an interest only mortgage, your monthly payments cover just the interest. That means your payments stay lower, but you’ll still need to repay the full amount you borrowed at the end of the mortgage term.

Need help with your mortgage Direct Debit?

This guide explains how your Direct Debit works and what to do if you need to make a change.

How does a mortgage Direct Debit work?

Number 1

Set up

Your Direct Debit is set up as part of your application, it can take up to 14 working days to become active.
Number 2

First payment

Your first payment will differ to your regular monthly payments because it includes initial interest.

This interest is charged from the day we released the funds to your solicitor, to the end of the calendar month.
Number 3

Monthly payments

After your first payment, your mortgage will be collected automatically each month.

We take the payments automatically and securely, so there's nothing you need to do.

If your Direct Debit payment fails, please get in touch with your bank. If your Direct Debit fails twice in row, it will be cancelled.


 

We’ll try to contact you by phone if a Direct Debit fails, and we’ll write to you. It’s important to find a solution as quickly as possible. If you’re struggling to make a payment, please get in touch.

How do I change Direct Debit?

Change Direct Debit date
You need to make a payment every month. Some changes might result in 2 payments made close together (for example moving from 30 November to 1 December).

Interest is calculated daily, so this may be effected by changing your payment date.

To change your Direct Debit date, please contact us at least 3 working days before your next payment.
Change Direct Debit Amount
  • To increase your payment amount, please contact us.  In some cases overpayments can incur early repayment charges.

 

  • If you would like to decrease your payments or take a payment holiday, these need to be agreed with us first so please contact us to discuss your options.
Change Direct Debit account

To change your Direct Debit account, please contact us and we'll support you with this.

You may need to make this months payment using another method to ensure the payment goes through.

Paying by debit card, cheque, transfer or in branch

By debit card

You can call our 24-hour automated line on 0345 1200 200 to make a payment by debit card. Our automated system only allows payments of up to £1000. 

 

Alternatively, our Mortgage Specialists can take your payment.


Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.

Cheque
You can pay your mortgage payments by cheque by sending in the post to:

Processing Team, 
Yorkshire Building Society, 
Yorkshire House, 
Yorkshire Drive, 
Bradford, 
West Yorkshire, 
BD5 8LJ.
At your bank

You can also pay at your bank using these details:




  • Sort code: 60 – 92 – 04

  • Account number: The first 8 digits of your YBS mortgage account number 

  • Reference or roll number: The full 10 digits of your YBS mortgage account number.


Please note, some banks may charge for paying this way. You'll need to make sure that we receive all payments by your due date.

Overpaying your mortgage

Many mortgages let you make extra payments, known as overpayments. If you pay more than your usual amount, you might be charged an early repayment charge. This depends on the type of mortgage you have.

 

Before you make a lump sum payment, check the terms of your mortgage so you know what to expect, you can read more about this in our overpayments guide.

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Woman and boy sat on sofa using phone

Payment holidays

You might need a break from payments if your circumstances change. This is called a payment holiday, if you’ve made overpayments on your mortgage then it might be possible to arrange this. Call us and we can guide on what your next steps could be.

 

It's important to know that underpaying will increase the amount of interest we charge you because interest continues to be charged during payment holidays. In some cases you can prompt an early repayment charge if you overpay by too much. So if you're considering a payment holiday, it's best to talk to us first, call us on 0345 1200 200 for further guidance.

Call us

Chat to our mortgage specialists about your options.
Monday to Friday: 9am to 5pm
Saturday: 9am to 1pm
Calls to 03 numbers are charged at the same rate as 01 or 02 numbers from all phones.

Message us

If you would rather contact us via secure message, you can log into your account and get in touch.

Other helpful pages

If you want to learn more about mortgage payments, these pages can also help.