Mortgages help

The easiest way to pay is by direct debit. If you haven’t set one up yet, give us a call on 03450 50 50 75.

You can also pay by:

• Standing order
• Regular bank transfer - e.g. faster payment
• Regular card payments in branch or over the phone
• Regular cash payment in branch
• Regular cheque payment in branch

We now use Confirmation of Payee (CoP) which puts your details through a name checking service when you transfer to a LBS account. This helps prevent misdirected payments and potential fraud.

Paying over the phone

You can make a mortgage payment over the phone by ringing our secure automated line at any time on 03300 08 16 04.
 Make sure you have your 10-digit mortgage account number to hand.



Paying online or by standing order

Name: This should match the name on your account with us.

Sort code: 40-64-38


Account number: The first 8 numbers of your 10-digit mortgage account number, which you can find in your annual statement, your online account, or any recent letters from us.

Reference: You can choose your own reference.

Payments into your account will show in your balance the next working day.

Overpayments


If you’d like to make an extra mortgage payment above your usual monthly payment, check your terms and conditions first to see if there’s any fees you need to pay.


You can pay by:

• Bank transfer e.g. faster payment
• Card payment in branch or over the phone

• Cash or cheque in branch

Depending on when your new mortgage starts and your chosen payment date, the first mortgage payment covers one or two monthly payments, plus initial interest, at once.

Example 1

If your mortgage starts on the 20th July and the payment date is the 1st of the month, the earliest we could collect the Direct Debit payment from your bank would be the 1st September. This is because we need at least 10 working days to set up the Direct Debit. This payment would include the initial interest charged for July, plus the two regular monthly payments for August and September. So, if the regular monthly payment was £1,000 and the initial interest was £350, the payment on the1st September would be £2,350. Your next payment would then be on the1st October and revert to your normal, regular payment.

Example 2

If your mortgage starts on the 5th July and the payment is due on the 1st of the month, we’d have enough time to set up the Direct Debit collection for 1st August.


The first payment would include the regular monthly payment for August and the initial interest charged for July. So, if the regular payment was £1,000 and the initial interest was £800, the payment on 1st August would be £1,800. Your next payment would then be on the 1st September and revert to your normal, regular payment.

We’ll write to you when the mortgage starts to confirm the amount before we take the payment. If you're buying a new home, the letter will come to your new property address. If you're buying a Buy to Let property, the letter will be sent to the correspondence address. If you have any questions, give us a call on 0345 050 5075.

To change your direct debit account details, we need 10 working days notice. To change your name or payment date we need 3 working days notice, but if you request this change 3 working days before payment, your details won't change until the following payment, as the direct debit will be in cycle.

A Decision in Principle gives you an idea how much you might be able to borrow with a lender, by using your income and savings. It’s also known as an Approval in Principle or Agreement in Principle. It’s valid for 90 days, so you’ll need to get another one if it expires.

It’s free and you don’t need to take out a mortgage after. It’s a good idea to get one because it shows you’re serious about buying.

It’s only a soft credit search so it won’t affect your credit score.

A Decision in Principle doesn’t guarantee you’ll be offered a mortgage and you’ll still need to complete the mortgage application process.

This is the fee you pay for some mortgage products. You'd usually pay this at application or you might be able to add it to the mortgage. We'll refund the fee if the mortgage application isn't successful or you choose not to continue.

What payment methods do you accept for the product fee?

Product fees need to be paid by card during the application. We accept Visa, Mastercard and Maestro.

You can come back to your online application using the application reference we emailed you. Your login details are valid for 110 days.