Mortgage Charter FAQs

Alongside our full range of existing support, we’re also a signatory to the Government’s Mortgage Charter. This gives your clients more ways to manage their payments if they’re concerned about rising mortgage rates or struggling to keep up payments on their current mortgage.

Your client can:

• Secure a new product up to six months before maturity: Under the Mortgage Charter scheme, your client can secure their next mortgage product up to six months before their current product ends. They can also change their mind up to 14 days before maturity if a more suitable option becomes available. If your client wants the new rate to start as soon as possible, they can request the new product to begin up to three months before maturity without ERCs. The product transfer request must be secured at least two weeks before the end date.
• Temporarily change to Interest Only: They can choose to pay just the interest on their mortgage for six months.
• Extend their current mortgage term to lower monthly payments: They can return to their original term within six months if they choose. The term must not exceed our maximum of 40 years (or 35 years for clients on our First Step (up to 98% LTV) product. Under the Mortgage Charter, it must not run beyond age 70 (or the client’s expected retirement age, if earlier)

If a client selects a term that goes beyond their retirement age, our Mortgage Advice Team will need to carry out an affordability assessment.

None of the options available under the Mortgage Charter will affect your client’s credit file.

How your client can request these changes

If your client wants to make a Mortgage Charter request, they can submit a form through our mortgage payment options page. This won’t affect your role in any product transfer.

If you or your client have any questions, contact us on 0345 601 0014 (Mon-Fri, 8am-6pm) or email mortgage.services@newcastle.co.uk.

Calls to 03 numbers cost the same as a standard landline call and are included in your mobile or landline minutes.

You’ll find answers to the most common Mortgage Charter questions below.

For more information on the government's Mortgage Charter, visit the Gov.uk website. 

If your client is struggling with their finances and needs further help from us, further information and support can be found on the mortgage payment difficulties page of our consumer website, including how to access our Helping Hand service. Helping Hand is a partnership with Citizens Advice Gateshead to deliver a dedicated service for our members allowing them to access free expert advice and support if they need help. 

If you have any questions or would like to discuss a case, please talk to your BDM or contact the Intermediary Support Team at Intermediary.lending@newcastle.co.uk.