Standard Mortgage
- Fixed term mortgage – take comfort in knowing it will be paid off at the end of the term
- A range of options available, you might want to pay a part off the loan each month so it’s fully repaid by the end, or choose to pay only interest each month and you then repay the amount you’ve borrowed at the end of the agreed term
- You will need to be able to show you can afford to make the monthly repayments from your earned income or pension for the full term
More information on your options:
- Repayment mortgage. Monthly payments are calculated so the mortgage is repaid at the end of the term
- The longer the term, the lower the monthly payment. However, it will take you longer to pay off the loan so you will pay more interest, costing you more over the mortgage term.
- Interest-only mortgage. The length of the term makes no difference to the monthly payments because these are only paying off the interest charges and not the loan itself. You will need to consider how you pay off the loan at the end of the agreed term, for example, an investment portfolio or selling a second property
I’m ready. What happens next?
For more information about our range of mortgages.