Loan Repayment Methods

Whichever type of mortgage you choose you will be required to pay interest charges monthly to the society.  The amount borrowed can be repaid in a number of ways which are:

Capital Repayment: each month in addition to interest you pay an amount which repays the capital gradually over the agreed loan period.

Interest only: each month you pay the interest only, with the capital repaid at an agreed time in the future.  It is your responsibility to ensure that you have adequate funds to repay the mortgage at the end of the specified term.

Think carefully before securing other debts against your home.  Your home may be repossessed if you do not keep up repayments on your mortgage.


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