Existing Customers FAQs 

As set out in our mortgage terms and conditions, payments are usually collected by direct debit. In certain cases, we may also accept payments by standing order, online payment via our website, or debit card.

If you need to change the bank account, payment date, or amount collected by direct debit, please contact us at least 5 working days before your next payment is due so we can make the necessary adjustments.

Yes, you can make lump sum payments by bank transfer, debit card (online or over the phone), or standing order. There are no overpayment limits unless you are repaying your mortgage in full. Please check with us whether early repayment charges apply before redeeming your mortgage.

It’s very important to contact us as soon as possible. Speaking to us early means we can offer support and discuss options that may help you avoid arrears. Our dedicated team is here to help you manage your account.

You can request changes such as updating your repayment method, extending or reducing your mortgage term, or switching to a new product. Contact us to discuss your options.

Yes, in most cases you can change your payment date to better align with your income. Contact us and we’ll discuss your options.

Further borrowing may be possible depending on your circumstances and eligibility. Please contact us to discuss your needs and the products available.

Porting is not generally available, but in certain limited circumstances it may be possible. Please call us to discuss your situation.

When your fixed or discounted deal ends, your mortgage will normally move to our Standard Variable Rate (SVR). This rate may be higher than your current deal. We recommend contacting us before your deal ends to explore your options.

Yes, you may be able to switch early. However, an Early Repayment Charge (ERC) may apply. Contact us to review your circumstances and available options.

The SVR is our default interest rate, which can rise or fall at our discretion. It may be more expensive than a fixed-rate or tracker mortgage, so reviewing your options before moving onto the SVR is often worthwhile.

Please let us know straight away if you change your address, phone number, or email so we can keep your account records up to date.

We issue annual statements automatically. You can also request a statement or balance update at any time by contacting us.

This process is called a “transfer of equity.” It may be possible, subject to affordability checks and legal requirements. Contact us to discuss your circumstances.

Please email redemptions@mercantiletrust.co.uk or contact us directly. We’ll provide you with a redemption statement showing the outstanding balance, any interest due, and any applicable fees.

If you’re experiencing financial difficulty, please contact us immediately. The sooner you reach out, the more options we may be able to offer, such as tailored payment arrangements. Don’t wait until you fall into arrears—our team is here to help.

This depends on your individual circumstances and the terms of your mortgage. Contact us to see if you are eligible for a payment holiday or temporary reduction.