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.
A fee may be charged, for arranging your mortgage, according to the level of service offered and our clients circumstances. This could range from zero to 1%. Typically if we arrange a mortgage of £100,000 and our fee is 0.5% of the loan amount, then the fee charged is £500.00.
The initial meeting will be free of charge and you will be made fully aware of all costs prior to conducting any business.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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