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Repayment Mortgage Calculator

Compare Repayment Mortgage Rates - We compare all the leading mortgage deals available in the UK market. See the tables below for a selection of leading current deals or use our FREE mortgage calculator to find deals based on your requirements or to speak to one of our mortgage advisers click here »

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.17%
Rate type: Fixed Aug-2019
Monthly cost: £390.37 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.17% Fixed Aug-2019 3.8% APRC 60% £1720.00 £390.37 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.17%
Rate type: Fixed Aug-2019
Monthly cost: £390.37 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.17% Fixed Aug-2019 3.8% APRC 60% £1720.00 £390.37 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.27%
Rate type: Fixed Aug-2019
Monthly cost: £393.10 per month
Max LTV: 75%
Product fee: £1220.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.27% Fixed Aug-2019 3.8% APRC 75% £1220.00 £393.10 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.27%
Rate type: Fixed Aug-2019
Monthly cost: £393.10 per month
Max LTV: 75%
Product fee: £1220.00
Overall cost for comparison: 3.8% APRC
Post Office logo 1.27% Fixed Aug-2019 3.8% APRC 75% £1220.00 £393.10 per month get quotes Call direct0808 178 6813 More details
Initial rate: 1.28%
Rate type: Fixed Oct-2019
Monthly cost: £393.56 per month
Max LTV: 65%
Product fee: £1263.00
Overall cost for comparison: 4.1% APRC
Virgin Money logo 1.28% Fixed Oct-2019 4.1% APRC 65% £1263.00 £300 cashback £393.56 per month get quotes Call direct0330 057 1528 More details
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Repayment Mortgage

A repayment mortgage is a type of mortgage where the monthly payments consist of a proportion of the original amount borrowed (known as the capital) plus a proportion of the interest owed.

Repayment mortgages are also commonly known as capital and interest mortgages due to the nature of these payments. This differs from an interest only mortgage where only the interest is paid off during the term of the mortgage.

You can compare a vast range of repayment mortgage deals, and find the best one for you, using our free online mortgage comparison tool below.

What are the features of a repayment mortgage?

  • To begin with, your repayments will be mainly interest which can be inconvenient if you want to move again in the short term as the amount you owe will not have decreased by much at this point. However, for those looking for long-term security, a repayment mortgage can be an option to consider because the amount borrowed decreases throughout the term and by the end of the loan term has been fully repaid.
  • You are less likely to end up in negative equity because the mortgage balance will be reducing every month and, as the years on the mortgage go by, the equity percentage (in the property increases. However, in the early years the bulk of the mortgage repayments consist of the interest component, so not much of the capital is actually paid off for some time.
  • Once the mortgage is all paid off, you will own your property outright , because as long as you make all your repayments, there is no risk of not being able to pay off the mortgage.
  • Unlike interest-only mortgages, repayment mortgages are not reliant on the investments you have planned to pay off the capital sum will be successful.

To compare top mortgage interest rates and find the best mortgage deals for you, use the mortgage calculator to search over 5,000 mortgage deals based on your personal circumstances or to speak to one of our mortgage advisers click here »

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