Repayment Mortgages

How does a Repayment Mortgage Work?

Monthly payments are made up of interest charged on the amount borrowed and a portion of capital to repay the mortgage. During the early years most of each month's payments are interest and it is only later on that you start to repay any significant element of capital.

Interest Only Mortgages

How does an Interest Only Mortgage Work?

Monthly payments to the lender consist of interest only and the outstanding mortgage remains the same. You make payments into a separate investment products with the aim of producing enough capital to repay the mortgage in full at the end of the term. There are a number of different investment products that can be used.

Do I Need Protection

What Protection will you need?

Life Assurance
To ensure that the mortgage is paid if you die. This is built into an endowment plan or simple term assurance.

Critical Illness
To provide a cash lump sum which could be used to pay off your mortgage if you suffer a critical illness. This cover can be built into most life assurance plans.

Accident, Sickness and Employment Cover
To provide you with replacement income to cover your mortgage and associated payments if you are unable to work because of an accident or long-term sickness. For accident sickness & redundancy insurance we offer products from a selected panel of providers.

Confidentiality

These are: Where we are legally compelled to do so, Where there is a duty to the public to disclose, Where it is necessary to protect our interest. This will not be used as a reason for disclosing information about you or your accounts to anyone else including other companies in our group for marketing purposes. Where disclosure is made at your request or with your consent. Or otherwise where permitted by law.

Please contact us or call 0800 037 8432 to discuss any questions you may have.