When it comes to financing a home, choosing the right type of mortgage is crucial. Two common options in the UK are interest-only mortgages and repayment mortgages. Understanding the differences between these two mortgage types can help you make an informed decision based on your financial situation and long-term goals. Let’s explore interest-only mortgage vs. repayment […]
What is a Repayment Mortgage?
Introduction to Repayment Mortgages A repayment mortgage is a popular home loan option in the UK. Borrowers pay both the interest and the principal (the amount borrowed) each month. This type of mortgage ensures that by the end of the term, typically 25 years, the loan is fully repaid, and the borrower owns the property […]