Capital and interest mortgage deals / repayment mortgage deals
There are hundreds of repayment mortgage deals in the UK and finding the right one can be time consuming and frustrating.
If you’re searching for a capital and interest mortgage deal / repayment deal, First Mortgage can help you find the very best offers from the whole of the UK market. We don’t charge a thing for our service, providing a totally impartial and free market search. I
What is a capital and interest deal / repayment mortgage deal?
A capital and interest (repayment) mortgage deal is one of the most popular ways to repay your home loan. Each month you pay off the interest as well as a percentage of the borrowed capital – slowly reducing the mortgage amount over time (usually around 25 years). Because of the way interest repayments work, the majority of the mortgage is paid off in the second half of the term. Pros and cons of repayment mortgage deals…
Many people opt for a repayment mortgage because they are easy to understand and allow you to pay off the sum in full at the end of the loan term (assuming all payments are met in time).
It is also very flexible, with options to increase your monthly payments or even make one-off payments (subject to your terms and conditions of course).
However, with a capital and interest deal / repayment deal life assurance is not usually included in the original deal.
Another disadvantage is that it can be harder to pay off larger sums in the early years of your loan, because of the way the interest is calculated. Initially, much of your repayment will be going towards paying the interest, and only some on the borrowed capital.
Despite this, repayment mortgages are one of the most popular types and suit a wide variety of people.
To find out more about this type of offer and arrange an immediate quote, feel free to call us on 0845 603 1525.
You may also want to view other types of repayment options, including interest only, investment backed, and part and part.
Get quotes prepared fast and easy from our award winning brokers starting, with our smart online form. Quote request
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