Default Header Image

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, such as making overpayments (more than the normal amount) and under some circumstances taking a payment holiday, making underpayments (less than the normal amount) or borrowing back previous overpayments.
  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 higher than interest only mortgages covered by an investment/life assurance product 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.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be up to 1.5% of the loan value. The overall cost for comparison is 6.5% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.


Mortgage Enquiry
Mortgage Calc

172 Commercial Rd
ALDGATE
London E1 2JY
t. 020 7790 4445
f. 020 7790 2575

Company Registration Details

Smartdealing Ltd T/A Xpresslink Properties

Registration N0: 11148808
Registered Office: 172 Commercial Road, Aldgate, London, England, E1 2JY
Xpresslink Properties is a trading style of Smartdealing Ltd