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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.

How does a mortgage Direct Debit work?

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.
2

First payment

Your first payment may be slightly different to your regular monthly payments.

Your first payment includes the initial interest. This is charged from the day we released the funds to your solicitor, to the end of the calendar month.

3

Monthly payments

After your first payment, your mortgage will be collected automatically each month by Direct Debit on the chosen date.

 

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

How do I change my 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 slightly increase the interest you pay.

 

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

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

Send your cheque 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.

Overpayments and payment holidays

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.

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 for further guidance.

Get in touch

Call us

Chat to our mortgage specialists about your options.

Monday to Friday 9am - 6pm

Saturday 9am - 1pm

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

Message us

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