Repayment Mortgages
With capital repayment, you will be repaying both
the interest and the original loan in small amounts every month. This
will gradually reduce the overall amount owed to the lender.
You may also be able to pay lump sums, or increase
the amount you pay each month, thereby reducing the term of your mortgage.
Pros:
- You can be certain that all debt will be cleared
at the end of the term, as long as you keep up repayments.
- You will be less affected by fluctuations in the
stock market
Cons:
- Check for any penalties or charges if you choose
to make a larger lump sum payment or pay off the mortgage early
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