Repayment options

You have a choice of repayment methods:

Repayment
Each month you pay both the interest on the loan and part of the capital so that your mortgage is repaid in full by the end of the agreed term.

Interest only
With this option your monthly payments are lower because they only cover the interest on your loan. However, the amount you borrow remains outstanding and will have to be repaid at the end of the term. You will need the funds available to repay the capital from another source such as an ISA, endowment policy or personal pension plan.You can also repay the amount borrowed from your own personal resources.

An early repayment charge may apply. Please read the above in conjunction with the early repayment information on the mortgage product detail page.

Your home may be repossessed if you do not keep up repayments on your mortgage

All mortgage pages must be read in conjunction with important information (mortgages) page.