Choosing your mortgage

Whether you're a first-timer or a sawy switcher, there's something for everyone here, So let's take a closer look at them.

Did you know there are two different ways of repaying your mortgage?

Repayment mortgages

With a repayment mortgage. your monthly repayments cover both the interest (the cost of borrowing the capital) and the capital itself, so the amount borrowed is repaid by the end of your mortgage term (providing all repayments are made on time and in full). Remember, repayments may vary with changes to interest rates.

Changes in our Base Rate made during the month will take effect from the 1st of the following month. Your monthly payment will be reviewed and any changes will be advised to you at the end of each mortgage year throughout the term of your mortgage.



Subject to product conditions you can overpay up to 10% per year without incurring an early repayment charge, This overpayment will reduce the mortgage balance and for capital and interest may reduce the term of the mortgage.

Interest-only mortgages
With an interest-only mortgage. your payments will only cover the interest on your mortgage.
The amount of capital remains the same and it's down to you how you choose to repay the full amount you've borrowed at the end of the mortgage term. So it is important to remember that you will need a suitable investment in place, which you must regularly review to ensure that you are able to repay your mortgage in full.

It is your responsibility to make sure you have enough money to repay the mortgage at the end of the term. We would recommend that you appoint an independent Financial Adviser to discuss the investment options available to you and the potential risks associated with your chosen strategy.

If you have any further questions about how an interest-only mortgage works, our Mortgage Advisors will be happy to help.

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.E