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?

When you repay your mortgage, your payment is made up of three parts
The capital
This goes toward paying off some of the loan amount that you borrowed from your mortgage provider. 
The interest
This is the charge for borrowing the money. At the start of your mortgage you may find that a large part of your payment goes towards paying the interest. Over time you’ll see the amount of capital you pay off increase, and the balance will reduce quicker.
Additional fees
When you take out a mortgage there are usually some fees and charges. Some fees are paid before your application and some are added to the total mortgage loan. This increases the loan amount and the amount of interest you’ll pay.
Interest only mortgages are where your payments only cover the interest being charged on the mortgage loan. Your payments may be less as they do not include any payments towards the original loan. This means that the loan amount, often called the capital, needs to be repaid 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.
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?

It will take 14 working days to set up a new Direct Debit.
Changes to your existing Direct Debit need to be made 3 working days before your scheduled payment date.
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 make changes to your direct debit date you can contact us.
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.

Lump sum payments 

Most mortgages allow you to make extra payments. These are known as overpayments. 

Overpaying on your mortgage could mean that you have to pay charges called early repayment charges. 

So, it’s important to fully understand the terms of your mortgage before making a lump sum payment. See our guide for more information.
Family in kitchen with laptop
Woman and boy sat on sofa using phone

Payment holidays and under paying

Underpayments or payment holidays need to be agreed with us in advance. 
If you’d like to chat about your options, please call us. 

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.

If you would like to take a mortgage payment holiday or pay less for one or more months, you’ll first need to make overpayments on your mortgage to cover this. Overpaying on your mortgage can lead to charges if you overpay too much. So, if you’re planning a payment holiday, it’s best to talk to us first. 

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.