Repayment

Repayment Mortgage

A repayment mortgage gradually repays the amount borrowed from the lender over the term on the mortgage. In the early years, the monthly repayments on the mortgage consist mainly of interest and a smaller amount of capital but near the end of the term the monthly repayment is almost all capital.

At the end of the term of a repayment mortgage, the amount borrowed will be entirely repaid and so there will be no outstanding amount to pay to the lender unlike an interest only mortgage.

 

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