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Interest Only vs Repayment Mortgage

PUBLISHED: 27th Sep 2023

Looking at a Mortgage Offer proposal recently and comparing a Repayment basis to Interest only, this latter one is often  strongly advised, by accepting the repayment method the amount required to pay overall was over £200,000.00 less and the APRC was 00.5% less too.

Applicable to both types of Mortgage, you could additionally repay each year an additional 10% of the prescribed yearly amount without penalty, to minimise further your liability

So please do check the benefits of each type of mortgage being offered and calculate which is most suitable for you, despite the amount of monthly additional cash flow one achieves in accepting the interest only route.

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