Re-payment mortgage

With a repayment mortgage your monthly repayments cover both capital and interest on the loan. Try our Free Repayment mortgage calculator.

No other repayment vehicle is needed, but your lender may insist on life insurance and other mortgage payment protection products in case you die before the mortgage is cleared.

Unlike Interest Only Mortgages, repayment mortgages the entire mortgage is paid back over an agreed period of time (this is referred to as the mortgage's term and is most commonly set at 25 years). When the mortgage's term has come to an end, providing all the repayments have been met, the property will be in the hands of the homeowner. This is a no risk Mortgage option, however you will need to make payments as and when requested by the lender, if you fail to pay the amount requested each month, then you are likely to suffer a shortfall at the end of the mortgage term.

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Interest Only Mortgage

 

 

 

 

 

 

 

 

 

 

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