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.
For mortgages, we are paid a commission from the lender, or a fee, or a combination of both. Our fee will depend on your circumstances, if we charge a fee our normal fee is £250. We also offer the option of advice on a "fee only" basis where we charge £950 and rebate any commission earned from the lender to you, our client.
Your home may be repossessed if you do not keep up repayments on your mortgage.