Repayment Types
Actions | ||||
|---|---|---|---|---|
| Endowment1 | False | True | You asked for mortgage linked to an endowment insurance policy, whereby you pay only interest to the Lender and the life insurance policy is intended to repay the capital sum on maturity. | Edit |
| Interest Only | False | True | You asked for an interest only mortgage as you do not require the certainty that your mortgage is repaid at the end of the term. whereby only interest is paid to the lender and no capital element is paid until the end of the mortgage. You have indicated that the capital element will be paid from some other source. | Edit |
| ISA | False | True | Edit | |
| Pension | True | True | You asked for an pension linked mortgage as you do not require the certainty that your mortgage is repaid at the end of the term. whereby only interest is paid to the lender and no capital element is paid until the end of the mortgage. You have indicated that the tax free capital sum from your pension will be used to pay the capital at the end of the term. | Edit |
| Repayment | False | False | You prefer to have the certainty that your mortgage is repaid at the end of the term. This means taking out a repayment mortgage that is designed to use each monthly payment to pay interest and pay back part of the capital outstanding. If you keep up your payments your entire loan will be repaid at the end of the term. | Edit |
| Split | False | True | Your mortgage will be split between Interest Only and Capital & Repayment -See details below. | Edit |
Page 1 of 1