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

ADVANTAGES: The only way you can be 100% certain the loan will be repaid (provided you keep up with the repayments.)

DISADVANTAGES:Only a small amount of capital is paid off in the early years.

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

For mortgage advice we can charge a fee of £150 / 1% of the loan amount, or we can receive commission from the lender.

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122 Boutport Street | Barnstaple | Devon | England | EX31 1TD | Registered in England, No:04320209 |

South West Financial Planning Ltd is An Appointed Representative of Sage Financial Services Ltd., which is authorised and regulated by the Financial Services Authority.
SAGE FINANCIAL SERVICES LTD is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150452
The FSA do not regulate some forms of mortgages or inheritance tax planning.
The advice and / or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.