Tel: 01234 270074
Twigden Asset Management Ltd does not offer mortgage advice and all enquiries are referred to our appointed representative King Associates.
King Associates can be contacted on (01234) 270074 option 2
or via email at email@example.com
How does it work?
You borrow a lump sum over a fixed period of time (usually 25 years but can be shorter or longer). You pay the interest and some of the capital on a monthly basis to the lender.
- Some flexibility with repayments, such as making overpayments (more than the normal amount) and under some circumstances taking a payment holiday, making underpayments (less than the normal amount) or borrowing back previous overpayments.
- The only way you can be 100% certain the loan will be repaid, providing repayments are maintained.
- Monthly mortgage payments may be higher than interest only mortgages covered by an investment/life assurance product to repay the capital.
- Only a small amount of capital is paid off in the early years as the monthly mortgage payment consists of a higher proportion of interest to capital repayment.