Compare Repayment Mortgages

Repayment mortgages are the most common type of mortgage where monthly repayments pay off both the capital plus the accrued interest. _Compare the latest interest rates and other important features of repayment mortgages in the table below.

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Think carefully about securing debt against your home. Your home may be repossessed if you do not keep up repayments on your mortgage

Last updated on 09 November 2020.

Repayment Mortgages FAQ

What is a repayment mortgage?

With a repayment mortgage you'll repay the mortgage capital each month along with the interest, unlike interest only mortgages which allow borrowers to pay off just the interest on the loan each month.

Is a repayment mortgage right for me?

If you can afford to make the monthly repayments each month and you want to take steps to clear your mortgage debt then a repayment mortgage is suitable for you.

What are the benefits of a repayment mortgage?

The main benefit of repayment mortgages is that, because you are repaying both the mortgage and the interest, at the end of the mortgage term you will own the property outright. Repayment mortgages are also cheaper overall than interest only mortgages.

What are the downsides of repayment mortgages?

While repayment mortgages are cheaper overall, they can seem more expensive in the short term. Monthly repayments for repayment mortgages are obviously more expensive than for interest only mortgages as you're paying back not just the interest but also the actual debt.

What fees will I pay for a repayment mortgage?

When taking out a repayment mortgage you're likely to face an arrangement fee (which can be £2000 or more), a booking fee, a valuation fee and legal fees. However, it's worth noting that not all fees apply to all products.

How can I compare repayment mortgages?

NerdWallet's comprehensive comparison tables make it easy and straightforward to compare all repayment mortgages. They are free to use and allow you to sort products by fees, rates and overall costs.

NerdWallet has selected Koodoo to provide you with this information-only online comparison service on a non-advised basis. NerdWallet will receive a share of the commission that Koodoo earns from the lender or from our partnered broker, Fluent Mortgages.

Koodoo is the trading name of Mortgage Power Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 845978), and is a registered company in England and Wales (company registration number 10978680), with a registered address at Scale Space, 58 Wood Lane, London, W12 7RZ

Fluent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FRN 458914), and is a registered company in England and Wales (company registration number 10978680), with a registered address at 102 Rivington House, Chorley, New Road, Horwich, Bolton, BL6 5UE