Making a flexible payment

Some of our mortgages allow you to make payments on a monthly or ad-hoc basis without paying a penalty. The type and frequency of the payment you can make is explained in further detail in your Offer Letter.

If your mortgage is a Capital Select Option, you can make voluntary contributions of up to 10% of the initial loan amount each year without incurring an early repayment charge.

If your mortgage is a Voluntary Select Option, you can make voluntary contributions each year without incurring an early repayment charge. The amount that you can pay is detailed in Section 4 of your Offer Letter.

You can make an unlimited number of payments, from as little as £50. You can make payments as soon as your mortgage completes, and there are no restrictions on making payments if you take additional borrowing.

No, your annual allowance will expire on the date detailed in Section 4 of your Offer Letter. You can’t roll your allowances up, and you are not penalised if you do not take advantage of them.

The majority of our customers set up a standing order, but you can also choose to make a payment by debit card over the phone, by BACs transfer or by cheque. You can find out more details by contacting our Customer Services Team. 

Our Customer Services Team will be able to answer any additional questions you may have about making payments. You can contact us in the following ways:

  • Call: 0800 068 0212
  • Email: hf-customers@canadalife.co.uk
  • Post: Customers Services Team, Canada Life, 110 Cannon Street, London, EC4N 6EU

Interested in more? Why not look at...

Lifetime Mortgages

Unlock the cash stored in your property

Lifetime Mortgages

Buy-to-Let Mortgages

These options allow you to release wealth from your property tax-free, leaving your portfolio intact

Buy-to-Let Mortgages

Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.

Stonehaven UK Limited and MGM Advantage Life Limited, trading as Canada Life, are subsidiaries of The Canada Life Group (U.K.) Limited. Stonehaven UK Ltd is authorised and regulated by the Financial Conduct Authority. MGM Advantage Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.