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 and how the rate you have chosen is set.
For mortgages we generally do not charge a fee However, we reserve the right to do so and you have the right to choose this method of remuneration should you prefer. In this instance we will make a charge of £2,000 and we will rebate any commission we receive from the lender back to you. Should we choose to charge a fee and you are happy for us to receive commission from the lender, we will reduce this fee to £225.00 We will discuss this prior to any business being conducted with yourselves.
Your home may be repossessed if you do not keep up repayments on your mortgage.