Capital and interest
This is the simplest type of mortgage. The payments you make to the lender every month pay off both the capital and the interest from the loan. Provided you keep up the payments, you are guaranteed to pay off the loan by the end of the term agreed (usually 25 years).
The lender calculates your monthly repayments depending on the amount borrowed, how long for, the interest rate & how the rate you have chosen is set.
We usually charge a fee of £199 per case, for arranging or advising on your mortgage. Alternatively, you may pay a fee of 1% of the loan amount and we will rebate any commission from the lender. For example, on a loan of £100,000 a fee of £1,000 would be payable, and we would refund any commission.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.