Servicing FAQs

We want to make it easy for you to manage your mortgage or loan with us, so here we’ve put together some of our frequently asked questions. If you’ve a question that’s not answered here, don’t hesitate to get in touch.

Your home may be repossessed if you do not keep up repayments on your mortgage.



Yes.
Just call us on 0333 414 1494, give us your new bank sort code and account number and we will do the rest.
You can also email at LendcoServicing@lendco.co.uk
We’ll need at least 10 working days before your payment is due so we can make the change in time.

Q. Can I change my address?

Yes
For commercial borrowers, we would require the request in writing on headed paper signed by the borrowers.

Q. How do I change my direct debit date?

You can change your direct debit payment date to any day within your current month of payment.
But you can’t change:
– Within 10 working days of the next payment date
– To the next month so you skip a month
– Your first payment
Additional interest payments are charged to some accounts, but we’ll let you know if this applies to your account before we make the change.
Just email us at LendcoServicing@lendco.co.uk to make a request.

If you’re having difficulty making payments or are worried about making payments please call us on 0333 414 1494 so we can help you.

Q. How do I make an overpayment or capital reduction?

You can make an overpayment, in addition to your normal monthly payment, on all of our mortgage or loan accounts. It’s a good idea to check your loan agreement or mortgage offer first, though, as some accounts have redemption fees that apply to them.
If you make an overpayment of up to 10% of your account balance each year you won’t be charged.
We may ask you to provide evidence of the source of any funds you intend to use to make an overpayment.

Email us at LendcoServicing@lendco.co.uk to find out more. You can always call us on 0333 414 1494 if you’ve any questions too.

Q. How do I make my regular monthly payment?

The quickest and easiest way is by direct debit.
You can also make a payment by bank transfer, internet banking or Faster Payments.
You can also make payments using your debit card over the phone.

Just give us a call on 0333 414 1494 to obtain our bank account details for a manual payment or to make a debit card payment.

Q. What happens to my payments at the end of my fixed rate or discounted rate offer period?

Before you reach the end of your fixed rate or discounted offer period, we will write to you to let you know what this means to your future payments. You can always call us on 0333 414 1494 if you’ve any questions

Q. Is my first payment higher than my normal monthly payment?

Your normal monthly payment is interest for the whole month and will remain the same for the fixed term period.

Q. I have just completed on my loan, when is my first payment date?

The 1st instalment is set one month after completion. For example, if a loan completed on the 19th February the first instalment will be 19th March.

Q. What happens to my payments if the Bank of England base rate changes?

A change in the Bank of England base rate may mean a change to some mortgage or loan accounts that are linked to the Bank of England base rate, the Lendco Administered Variable Rate or the Lendco Administered Variable Rate.

Take a look at your mortgage offer document to find if your mortgage is linked to one of these rates.

Don’t worry, if your payment is going to change, we’ll write to you before this happens to let you know what your new monthly payment will be. You can always call us on 0333 414 1494 if you’ve any questions.

Q. Can I borrow more money from another lender and secure it against my property/Deed of Postponement?

We’re happy to consider second or subsequent charge requests.

Just get the other lender to send the following information to us at Lendco limited
City Place House, 55 Basinghall Street, London, EC2V 5DX or send an email to LendcoServicing@lendco.co.uk:

– Name/names of account holder/s
– Lendco account number
– Address including postcode
– Authority for us to talk to the other lender, signed by all account holders
– Full details of the second/subsequent charge loan including purpose
– Copy of the second charge/subsequent charge loan illustration

We’ll do our best to respond to your request as soon as possible but you should allow 10 working days once we’ve received your request. You can always call us on 0333 414 1494 if you’ve any questions too.

Q. Can I change the repayment type of my mortgage?

Unfortunately, not. Our mortgages and loans don’t have this feature available.

Q. Can I extend the term of my bridging loan?

We can consider an extension of your bridging or development loan, depending on the circumstances. Give us a call on 0333 414 1494 and we’ll explain what you need to do.

We charge 1% of the gross balance of the loan for the extension service and approval is subject to status.

If you need more information about the service like the fees, interest rates or a personal illustration please send an email to LendcoServicing@lendco.co.uk

Q. Can I take my mortgage with me if I move to a new house?

Unfortunately, not. Our mortgages and loans don’t have this feature available
We’ll do our best to respond to the request as quickly as we can but please allow 10 working days from when we receive the information.

You can always call us on 0333 414 1494 if you’ve any questions.

Q. How can I contact you?

We’re always keen to help you with any queries or questions. Drop us an email, write us a letter or pick up the phone:

Email us at LendcoServicing@lendco.co.uk

We do our best to reply to emails as soon as we can but please allow 72 hours.

Write to us at Lendco limited, City Place House, 55 Basinghall Street, London, EC2V 5DX
Call us on 0333 414 1494.

For mortgages completed after 1 December 2021 call the number above. Any loans completed prior to this, please call 0330 053 6827.

All calls are recorded, and we’re open Monday to Friday 9am – 5:30pm, but not on bank holidays.

Q. How do I make a complaint?

Our aim is to always provide a level of service that goes beyond your expectations. However, if you have a complaint, we’ll work with you to find a suitable solution and improve our service for everybody.

You can call us on 0333 414 1494.

Q. Can I get a copy of my annual statements from previous years?

Yes, we can provide these for you but do charge £15 for each statement you request.
Just give us a call on 0333 414 1494 or, send an email to us at LendcoServicing@lendco.co.uk

Q. How do I find out how much is left to pay on my Lendco mortgage or loan account?

We can send you 1 free redemption statement, but any additional requests will be charged at £25 each. We also send you a redemption statement with your mortgage statement each year.

Just give us a call on 0333 414 1494 or send an email to us at LendcoServicing@lendco.co.uk

Q. What fees do you charge?

Our Tariff of Charges has all you need to know about our fees and charges. Give us a call on 0333 414 1494 if you’ve any questions.

Q. I’m worried about paying my mortgage and haven’t taken a payment holiday. Can I take one now?

The government’s mortgage payment holiday scheme has ended. However, if you’re having problems making payments please get in touch as there may be other ways, we can help

It’s a good idea to complete our Income and Expenditure form before you contact us so you’ve got a clear picture of your monthly expenses. Call us on 0333 414 1494 or email us at LendcoServicing@lendco.co.uk

Q. I’m a landlord and have a buy to let mortgage with you. I am worried that my tenants will be unable to pay their rent. I have not taken mortgage payment holiday yet – can I take one now?

The government’s mortgage payment holiday scheme has ended. However, if you’re having problems making payments please get in touch as there are other ways we can help.
It’s a good idea to complete our Income and Expenditure form before you contact us so you’ve got a clear picture of your monthly expenses. Call us on 0333 414 1494 or email us at LendcoServicing@lendco.co.uk

Q. I am buying a property and have a mortgage offer from you, but I am worried the transaction will be delayed. Can I request an extension to the expiry date of my mortgage offer?

Yes. Please get in touch so we can explain how to do this. You can call us on 0333 414 1495 or email us at LendcoServicing@lendco.co.uk

Q. Would interest have been charged on my mortgage/loan when I was on a payment holiday?

Yes. We charge interest on the outstanding balance and apply it to your balance monthly. Interest is charged at your current interest rate and must be repaid within your current mortgage term.

Q. I’ve taken a payment holiday. Will this affect my credit score?

If your account was up to date and not in arrears at the time you took your payment holiday, we will not report these as missed payments to credit reference. However, if you agree any new arrangements with us, this may affect your credit score.

Q. I need specialist advice about my debts, who can help?

There are lots of ways you can get specialist help. Here are just a few organisations that can provide you with free advice as well as support:
1. Money Helper – free and impartial money advice, set up by government
2. Citizens Advice – advice on issues such as debt management and welfare benefits
3. StepChange – free, impartial debt advice
4. National Debtline – free, impartial debt advice
5. Cruse – for financial support in bereavement
6. Samaritans – emotional support
7. PaypPan – free debt help and support

Q. I want to take some pressure off my debts. Are you part of the government scheme ‘Breathing Space?

Yes, we are part of the government scheme ‘Breathing Space’ that allows you time to get debt advice and find a solution to help you resolve your debt. You can find out more about the scheme here.

Q. Can I add or remove someone from my mortgage?

Adding or removing someone from your mortgage without increasing the amount you’ve borrowed is called a Transfer of Equity. We’re happy to review these requests.

Get in touch to find out more by calling us on 0333 414 1494 or email us at LendcoServicing@lendco.co.uk

Q. Can I redeem directly?

Yes, if no solicitors involved then we would require evidence for the source of funds for normal Anti Money Laundry checks.

Q. Do you charge daily or monthly interest?

Interest is charged monthly.

Q. What happens if there is a change to the Company’s Directors?

The directors named on your account must match the directors named on Companies House at all times throughout the loan. If changes to the directors of the company are planned, the new director must call us so we can undertake the appropriate checks. We’ll also need certified proof of ID and proof of address of the proposed director(s).
Please note, if you’re removed as a director, your personal guarantee still remains valid.

Q. What is the difference between a Capital Repayment Mortgage and an Interest Only Mortgage?

With a repayment mortgage, every month you pay back both the interest on your mortgage AND some of the loan itself.
With an interest-only mortgage, you only pay back the interest on your loan. This means your monthly payments are much lower, but you will still need to pay off the loan at the end of the mortgage term.