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Repayment

How does it work?

You borrow a lump sum over a fixed period of time (usually 25 years but can be shorter or longer). You pay the interest and some of the capital on a monthly basis to the lender.

ADVANTAGES:

  1. Some flexibility with repayments.
  2. The only way you can be 100% certain the loan will be repaid, providing repayments are maintained.

DISADVANTAGES:

  1. Monthly mortgage payments may be slightly higher than interest only mortgages covered by an investment/life assurance to repay the capital.
  2. Only a small amount of capital is paid off in the early years as the monthly mortgage payment consists of a higher proportion of interest to capital repayment.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.



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Chissick Estates - 4 Carlton Drive, Barkingside, Essex, IG6 1LU

Tel: 020 8551 5333Fax: 020 8551 5337Email: enquiries@janicechissick.co.uk

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