The two main types of mortgage there are two main types of mortgage, either repayment or interest- only. Browse your mortgage property prices. Consumer credit protection. Lenders sometimes impose charges known as 'redemption penalties' if you pay off your mortgage sooner than expected. For your own personal requirements please speak to a qualified mortgage advisor. Simply call us free for independent online mortgage advice.

Offset & current account mortgages. It means that fewer people stick to the same mortgage throughout the 20- 25 year term. Mortgage interest calculation. Mortgage deed - this is the legal document which establishes the loan on a property. Another important feature is that interest is calculated monthly/daily, not annually in arrears, so overpayments have an immediate impact on what interest you pay. The lender cannot widen its margin and charge a penal interest rate.

With a repayment mortgage you make a payment every month to the mortgage lender which includes both interest on the mortgage and a portion of the capital. Fixed rate mortgages & other products available. Mortgage term - the length of time the borrower has a mortgage. A discount rate mortgage guarantees that you will pay a set amount below a lender's standard variable rate for a specified period of time. Insurances mortgage interest rate options.