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 do not ordinarily charge fees for arranging mortgages, instead we will be paid a commission from the lender for placing a mortgage on your behalf.
However, if you wish to pay a fee for mortgage advice, this would be £300 and we will refund any commission received from the lender.
Your home may be repossessed if you do not keep up repayments on your mortgage.