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Repayment Mortgages

Repayment Mortgages

Repayment Mortgages

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With repayment mortgages, the monthly payment consists of both a capital and interest element. As long as the borrower keeps up with their payments the loan is guaranteed to be fully paid at the end of the term.

At the beginning of the mortgage term payments consist of mostly interest. As the amount of capital owed reduces the monthly interest charged decreases whilst the amount of capital paid increases.