Mortgages from Newcastle Independent Financial Advisers

Amethyst IFA

83 Howard Street
North Shields
Tyne and Wear  NE30 1AF

0191 257 6704 0191 257 6256 Mon - Thurs 9am to 5pm
Friday - 9am to 4:30pm

Repayment Mortgages

How do they work?

You borrow a lump sum over a fixed period of time (usually 25 years but can be shorter or longer). You pay the interest and some of the capital on a monthly basis to the lender.

Advantages

  • Some flexibility with repayments.
  • The only way you can be 100% certain the loan will be repaid, providing repayments are maintained.

Disadvantages

  • Monthly mortgage payments may be higher than interest only mortgages covered by an investment/life assurance product to repay the capital.
  • Only a small amount of capital is paid off in the early years as the monthly mortgage payment consists of a higher proportion of interest to capital repayment.

Your home may be repossessed if you do not keep up repayments on your mortgage.

For mortgages we can be paid by commission, or a fee of usually £395.

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amethyst IFA Paul Richardson Alan Dennett Malcolm Butters Liz MacBride Keith Wilkinson Stephen Anderson Karen Chapman