Repayment Mortgage
The majority of mortgages are set up on this basis, a capital and interest mortgage is the term also used.
How it works: You borrow money from an institution and you agree to repay that money over a number of years.
Each month you will pay interest on the money you owe and you will also repay some of the capital (the money you borrowed in the first place). This means that, providing you meet the monthly repayments, the mortgage will be repaid at the end of the agreed term. Nice and simple.
For further information and advice or to arrange a consultation please contact us or call Richard on 01252 759233.