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 and they are on time, you are guaranteed to pay off the loan by the end of the term agreed as dependent on the clients circumstances.
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 do not normally charge a fee as we are usually paid by the lender. However you have the option to pay us a fee and receive any commission which we are paid by the lender. If you choose this option, we estimate that the fee will be £495.
Your home may be repossessed if you do not keep up repayments on your mortgage.