Repayment Mortgages

Repayment Mortgages

Our panel of carefully selected Specialist Mortgage Brokers are always here to support and assist you, offering a whole of market service. Who at times have exclusive offers for our clients. 

What are Repayment Mortgages?

Repayment Mortgages, is where the borrower gradually pays off both the interest and the principal amount borrowed over the term of the mortgage, usually 25 to 30 years.

Each monthly payment is divided into two parts: one portion goes towards paying the interest on the loan, and the other reduces the capital balance (the amount borrowed).

Key Features of Repayment Mortgages in the UK:

• Full Repayment by End of Term: By the end of the mortgage term, the entire loan (both interest and capital) is fully repaid, meaning you own your home outright.
• Monthly Payments: The monthly payments are calculated so that the loan is fully paid off by the end of the term. Early in the term, a larger portion of the payment goes toward interest, but as time goes on, more goes toward repaying the principal.
• Interest Rates: The interest rate can be fixed, variable, or tracker, depending on the mortgage product chosen.
• Common Choice for Homeowners: Repayment mortgages are the most common type of mortgage particularly for residential properties, as they ensure that the debt is fully paid off over time.

Repayment Mortgages can be obtained on Residential and Commercial property throughout the UK.

Find out how our panel of Specialist Mortgage Brokers can assist to find the right deal for you.