Capital and interest
This is the simplest type of mortgage. The payments you make to the lender every month pay off both the capital and the interest from the loan. Provided you keep up the payments, you are guaranteed to pay off the loan by the end of the term agreed (usually 25 years).
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.
We offer different charging options for advice on arranging mortgages. We can either charge an hourly rate and refund any commission we receive from the lender or charge a flat fee and be paid commission by the lender. Our usual fee for advising on, and arranging a typical mortgage is £500. In addition, we may also receive a fee from the lender. For more complicated mortgages, the fee may be greater, for example £750 for buy to let.
In all cases, we would confirm our fee to you up front, and ensure you were happy before proceeding.
For further information, please telephone 01732 744290.
Your home may be repossessed if you do not keep up repayments on your mortgage.