Repayment Mortgage
With a repayment mortgage, your monthly mortgage repayments will clear a percentage of the capital amount that you borrowed and will also pay off the interest that has built up in the space of time that you have had your repayment mortgage.
Repayment Mortgage Statement
If you decide to take a repayment mortgage, you will find that the mortgage statement is normally received annually. This will show the outstanding balance of your mortgage decreasing throughout the mortgage term.
As you make payments to your repayment mortgage, the amount owing, (both capital and interest) decreases, with each payment. Unlike an endowment mortgage, where the endowment policy is used at the end of the mortgage to clear the capital sum, you are safe in the knowledge that the total amount of your mortgage will be repaid by the end of the mortgage term.
Repayment Mortgage Application
If you would like to enquire about a repayment mortgage, click on the enquire now button and fill out the form. It only takes a few minutes to complete, and there is no obligation.
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Champion Financial Services is a trading style of Rafik Allana of 16b Second Avenue, Hendon, London. NW4 2RN.
Champion Financial Services is an Appointed Representative of Mortgage Next Network Limited, which is authorised and regulated by the Financial Services Authority in respect of mortgage and insurance mediation activities only. Mortgage Next Network Limited is entered on the FSA register (http://www.fsa.gov.uk) under reference 300866.
We do not charge a fee for any initial quotation. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be 1.5% of the loan amount, this fee will be payable on completion.
The overall cost comparison is 6.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.