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Repayment Mortgage
Repayment mortgages are ideal if you want the reassurance that your debt to the mortgage lender will be repaid in full at the end of the loan period provided that payments have been maintained.
Each monthly instalment pays off both the capital (i.e. the money borrowed) and the interest charged on the amount outstanding. As the term of your mortgage continues, the amount that you owe the lender will decrease, making you less likely to suffer from negative equity. |
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Advantages
You do not have to take on additional investment plan to repay the mortgage. You will see the benefit of any equity in the house. |
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Disadvantages
You would not have the opportunity to use an investment to pay off your mortgage early – although you could make overpayments to achieve this. If you move house after just a few years, the majority of your payments will have been towards interest, not capital. This means that if you are trading up, many people have to begin another twenty five year loan again. |
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Apply
Our quick application form can save you hours of trawling the net. The application is without obligation. |
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Quick Application
Please fill out the following form and we will ensure that a mortgage specialist searches for the best deals available.
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