Flexible Mortgages

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028 90 681 999


On this page of our site we will explain the main types of mortgages available and the potential advantages and disadvantages of each.

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 us 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 us for advice on interest only mortgages.

To find out more about interest payments go to our mortgage interest page.

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Registered Office: Flexible Mortgages, 127 Stranmillis Road, Belfast, BT9 5AJ

Tel: (++44) 28 90681 999, email: info@flexiblemortgages.org

Flexible Mortgages is a trading style for Brightwater NI Ltd which is an appointed representative of Openwork Limited which is authorised and regulated by the Financial Services Authority.

Openwork Limited is authorised and regulated by Financial Services Authority. Registered in England 4399725. Registered office: TriCentre 3, New Bridge Square, Swindon SN1 1HN. Telephone: 0870 608 2550.

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

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