A repayment mortgage is the option that most borrowers opt for, as opposed to interest only.
With a repayment mortgage, or capital repayment loan to give it its full name, you pay back both the capital and interest until the mortgage is paid off. This way you guarantee that the mortgage will be paid at the end of the term.
You make monthly payments for an agreed time period, which is normally twenty five years. Depending on your circumstances this could be up to forty years or age seventy five.
To discuss the suitability of a capped rate mortgage for your property in the Antrim or Ballymena area, contact us today https://mortgageoptionsni.co.uk/contact-us/ your local independent mortgage broker
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.