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Reduce your outgoings with a part and part mortgage

Reduce your monthly mortgage repayments while still chipping away at your loan, by switching to a part interest, part repayment mortgage. Discover how much less you'd pay each month by completing a mortgage recommendation.

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How it works

In the current climate, many homeowners are fearful of the impact higher rates will have on their monthly outgoings.

Also known as a part interest, part repayment mortgage or part capital, part interest mortgage, these are a middle-ground between a standard repayment mortgage and an interest-only mortgage. You'll pay off some of your mortgage, but when your mortgage ends, there will still be some debt remaining. Importantly, switching to a part and part mortgage could significantly reduce your monthly repayments.

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Things to consider


What are the benefits?

Lower your monthly outgoings

By switching to a part interest, part repayment mortgage, you can reduce your monthly mortgage repayments. If you're experiencing financial difficulties during the cost of living crisis, this could have a significant impact on your day-to-day.

Increase your affordability

In reducing your monthly repayments, it's likely that your mortgage affordability will be increased. So if you know that your affordability is tight for your remortgage - perhaps because your income or outgoings have changed - this could be a solution.

Continue to pay off your loan

Unlike an interest-only mortgage, you'll still be chipping away at your loan with a part and part mortgage. This means you won't have to pay the whole mortgage balance at the end of the mortgage term.

Change back in the future

You don't have to stay on part and part forever: you can change back to a standard repayment mortgage later down the line, as long as you meet the lender's affordability criteria.

Enjoy flexibility

Lenders are fairly flexible with part and part remortgages, and will usually allow you to set the interest and repayment amount on a mortgage. For example, you might set up with 70% repayment and 30% interest-only.

Risks and considerations

It may take longer to pay off your loan

Because you'll be paying a reduced amount of the capital and interest on the loan, you may have an outstanding amount to pay back once your mortgage term expires.

Your interest rate will stay higher for longer

Because the capital you owe reduces at a slower rate in comparison to a standard repayment mortgage, the amount of debt you are paying interest on will also reduce at a slower rate. This means you could end up paying more interest overall.

Fewer mortgage lenders to choose from

Not all lenders offer part and part mortgages, as some perceive them as higher risk. This means you might not be offered the best rates available across the market.

The repayment structure can be confusing

How you make repayments with a part and part mortgage can be complex. It's always best to speak to a mortgage expert to understand how the set up works before moving forward.

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Looking for another option?

There are a number of different options to help you remortgage. Check these out.

See all remortgage schemes


Income Boost remortgage

Add a loved one's earnings to yours to boost your affordability, helping you to remortgage onto a new deal.

See details


Product transfer

Switch to a new mortgage deal with your current lender through a product transfer.

See details


Interest only mortgage

Reduce your monthly costs in the short term by changing to an interest-only mortgage.

See details

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