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Repayment

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.

ADVANTAGES:

  1. Some flexibility with repayments.
  2. The only way you can be 100% certain the loan will be repaid, providing repayments are maintained.

DISADVANTAGES:

  1. Monthly mortgage payments may be higher than interest only mortgages covered by an investment/life assurance to repay the capital.
  2. 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.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.


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Company address:
Fairfield Financial Services, 9A Regal Way, Faringdon, Oxon, SN7 7BX
T: 01367 243645
F: 01367 243645

Email: admin@fairfieldfinancialservices.co.uk

Fairfield Financial Services is the trading name of Fairfield Financial LLP which is Authorised and Regulated by the Financial Services Authority.

Fairfield Financial LLP is entered on the FSA register (www.fsa.gov.uk/register/) under reference 505523.

Telephone: 01367 243645 | admin@fairfieldfinancialservices.co.uk

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