Nationwide

Change in Amortization Rate

Some banks offer you the possibility to change the amortization and thus alter the rate. This allows you to control the speed at which you repay the loan.

    Examples of when a change in amortization rate is interesting:

  • A young family wants to lower their rate when one parent goes on parental leave.
  • Someone wants to increase their rate after a salary increase.

This right is only available if it is also specified in the loan agreement. Not every bank offers this. Furthermore, the offers vary in the extent of the allowable change. This can range between 1-10% in the best case, others offer +/-2 percentage points as an example.