MORE ABOUT Repayment MORTGAGES

With a repayment mortgage your monthly repayment will cover both capital and interest on the loan. No other savings vehicle is needed, but your mortgage lender may insist on life insurance in case you die before the mortgage is paid off.

With repayment mortgages the entire mortgage is paid back over an agreed period of time (this is referred to as the mortgage's term and is most commonly set at 25 years). When the mortgage term has come to an end, providing all the repayments have been met, the property will be owned outright by the homeowner. This is a no risk Mortgage option, as long as you meet the monthly mortgage payment requested by the lender.