Mortgage Charter FAQs

Alongside our comprehensive range of existing support options, we are also a signatory to the Government's Mortgage Charter. This means we've introduced even more ways to support your clients who may be worried about how mortgage rates could affect them over the coming months. 

These measures include the option for clients to: 

• Arrange a new deal up to six months before their current deal ends. They can change their mortgage deal within the six-month period, right up until the new product starts or within the 14-day cooling off period after a product has gone live, should they find a better like for like deal with us. 
• Temporarily change to Interest Only, where they will be able to only pay the interest on their mortgage for six months. 
• Or, extend their current mortgage term to reduce monthly payments, with the option to revert back to their original term within six months. Term extensions must not go beyond the earliest expected retirement age (maximum 70 years) or 40 years from when you originally took out the mortgage. 

All options within the Mortgage Charter will not require an affordability check or have an impact on your client's credit file. 

The most frequent questions about the Mortgage Charter and their answers are detailed 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 additional 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 queries or would like to discuss a case, please talk to your dedicated Business Development Manager or contact the Intermediary Support Team at Intermediary.lending@newcastle.co.uk.