What is a mortgage?
A mortgage in general is a loan that is secured against your home and is paid back over a period of time. If a situation occurs and you can not pay back the loan, the lenders can then sell your home to recovery the cost of the mortgage loan..

Repayment Mortgage
Repayment is a method of payment that reduces both the loan and pays the interest.

Please note that at the start of your mortgage (term) payments the amounts paid off will mainly consist of interest and the general lump sum of the mortgage loan will not show as great reduction.

Interest Only
Interest only method of payment only mortgage pays off the interest and the monthly payments will be smaller.

However, you will need to have some way of paying off the mortgage when it reaches the end of the mortgage term.

Repayment & Interest
Repayment & Interest only mortgage, please contact us for further information on 0845 8330352.