Repayment or Capital and Interest Mortgage

This is the simplest type of mortgage. The payments made to the lender every month repay both the capital and the interest from the loan. Provided the monthly payments are paid when they fall due, then they are guaranteed to pay off the loan by the end of the mortgage term.

At the beginning of the mortgage term, the monthly payments consist mainly of interest. The amount of capital owed gradually reduces during the term and the interest part of each monthly payment decreases, while the capital element increases.

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.

Also See:

Flexible and Offset Mortgage Interest Only

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. 

Our typical fee is £500 and is payable upon completion. We will refund any commission received from the lender.

Enquiries

Existing Client Portal https://scotiaifs.gb.pfp.net


Call 0141 221 3677
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