Considering moving home or remortgaging?
Then contact Brian Roberts Cert PFS, he holds the key to all your mortgage needs...
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I specialise in Equity Release. For advice, please visit the Equity Release page
Mortgages
On this page of my site, I will explain the two main types of mortgages available and the potential advantages and disadvantages of both.
Repayment Mortgages
Also known as capital mortgages, Repayment mortgages are the traditional means of paying for a property so that eventually it becomes fully yours as a result of the payments. The term of a repayment mortgage is typically 25 years and at the end of that period you would, if payments have been kept up, owe nothing to the lender.
Your mortgage payments are divided into capital repayments which are repayments of the money you borrowed and interest payments which are repayments of the interest charged for the loan.
Every month you pay off some of the interest and some of the capital. The monthly repayments on a repayment mortgage will be greater than an equivalent interest only mortgage.
Contact me for advice on repayment mortgages.
Interest Only Mortgages
As the name suggests with an interest only mortgage you are only paying off the interest on the loan. The capital remains unpaid.
Typically, interest only mortgages run alongside an investment. The idea being that the investment is used to pay off the mortgage at the end of its term or even provide a surplus.
The danger with this type of mortgage is that if the investment is unsuccessful you could lose your home at the end of the mortgage term.
Proof of investment is no longer required by the majority of lenders for interest only mortgages.
Contact me for advice on interest only mortgages.
Call me now on 01492 874233 or Email: brian@broberts.co.uk
Address:
Brian Roberts Financial Services
28 Queens Road
Craig-y-Don, Llandudno
LL30 1AZ
Tel: 01492 874233
Email: brian@broberts.co.uk
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Brian Roberts Financial Services is authorised and regulated by the Financial Services Authority.
Address: 28 Queens Road, Craig-y-Don, Llandudno, LL30 1AZ. Tel: 01492 874233 Email: brian@brianroberts.co.uk
Principal: Brian Roberts Cert PFS
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK