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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-
![Lloyds Bank's logo']()
Lloyds Bank 2 Year Fixed
-
Initial Rate
1.17% Fixed to 28/02/2023
-
APRC
3.40%
-
Product Fee
£999
-
Monthly Repayment
£576.93
-
Lender:
Lloyds Bank
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£100,000
-
Max Loan:
£249,999
-
Product Description:
1.17% Fixed to 28/02/2023
-
Incentives:
Free valuation fees
free legal fees
£200 cashback
-
Initial Monthly Repayment:
£576.93 x 27
-
Ongoing Monthly Payments:
£741.62 x 273
-
Total Amount Payable:
£218,838.37
-
Total Interest Payable:
£68,039.37
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/23: 2/1% Sum Repaid
-
Initial Rate
-
![Lloyds Bank's logo']()
Lloyds Bank 2 Year Fixed
-
Initial Rate
1.17% Fixed to 28/02/2023
-
APRC
3.40%
-
Product Fee
£999
-
Monthly Repayment
£576.93
-
Lender:
Lloyds Bank
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£100,000
-
Max Loan:
£249,999
-
Product Description:
1.17% Fixed to 28/02/2023
-
Incentives:
Free valuation fees
free legal fees
-
Initial Monthly Repayment:
£576.93 x 27
-
Ongoing Monthly Payments:
£741.62 x 273
-
Total Amount Payable:
£219,038.37
-
Total Interest Payable:
£68,039.37
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/23: 2/1% Sum Repaid
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-
Initial Rate
-
![Santander's logo']()
Santander 2 Year Fixed
-
Initial Rate
1.25% Fixed to 02/03/2023
-
APRC
2.90%
-
Product Fee
£999
-
Monthly Repayment
£582.45
-
Lender:
Santander
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£6,000
-
Max Loan:
£1,500,000
-
Product Description:
1.25% Fixed to 02/03/2023
-
Incentives:
Free valuation admin fees England, Wales, Northern Ireland
£250 cashback On Completion or free legal fees
free valuation fees (Max £1190)England, Wales, Northern Ireland or £95 towards valuation feesScotland
-
Initial Monthly Repayment:
£582.45 x 27
-
Ongoing Monthly Payments:
£724.78 x 273
-
Total Amount Payable:
£214,815.09
-
Total Interest Payable:
£63,591.09
-
Valuation Fee:
Free
-
Exit Admin Fee:
£225
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 2/3/23: 3% Outstanding Balance,to 2/1/23: £250 reclaimedCashback Reclaimed or to : 2/1/23. Legal Fee (Max £200.00)
-
Initial Rate
-
![Barclays Mortgage's logo']()
Barclays Mortgage 2 Year Fixed
-
Initial Rate
1.28% Fixed to 31/01/2023
-
APRC
3.30%
-
Product Fee
£999
-
Monthly Repayment
£584.52
-
Lender:
Barclays Mortgage
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
60%
-
Min Loan:
£5,000
-
Max Loan:
£5,000,000
-
Product Description:
1.28% Fixed to 31/01/2023
-
Incentives:
Free valuation fees Remortgages
free valuation fees for properties valued Max £2M House Purchase,First Time Buyers
free legal feesRemortgages or £250 cashbackRemortgages
- Website:
-
Initial Monthly Repayment:
£584.52 x 26
-
Ongoing Monthly Payments:
£743.04 x 274
-
Total Amount Payable:
£219,869.48
-
Total Interest Payable:
£68,790.48
-
Valuation Fee:
Free
-
Exit Admin Fee:
£80
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/1/23: 2% Sum Repaid
-
Initial Rate
-
![Halifax's logo']()
Halifax 2 Year Fixed
-
Initial Rate
1.28% Fixed to 28/02/2023
-
APRC
3.50%
-
Product Fee
£995
-
Monthly Repayment
£584.52
-
Lender:
Halifax
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
0%
-
Min Loan:
£100,000
-
Max Loan:
£249,999
-
Product Description:
1.28% Fixed to 28/02/2023
-
Incentives:
-
Initial Monthly Repayment:
£584.52 x 27
-
Ongoing Monthly Payments:
£742.45 x 273
-
Total Amount Payable:
£220,465.89
-
Total Interest Payable:
£68,470.89
-
Valuation Fee:
£200
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/23: 2/1% Mortgage Advance
-
Initial Rate
-
![Halifax's logo']()
Halifax 2 Year Fixed
-
Initial Rate
1.28% Fixed to 28/02/2023
-
APRC
3.50%
-
Product Fee
£995
-
Monthly Repayment
£584.52
-
Lender:
Halifax
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
0%
-
Min Loan:
£100,000
-
Max Loan:
£249,999
-
Product Description:
1.28% Fixed to 28/02/2023
-
Incentives:
-
Initial Monthly Repayment:
£584.52 x 27
-
Ongoing Monthly Payments:
£742.45 x 273
-
Total Amount Payable:
£220,465.89
-
Total Interest Payable:
£68,470.89
-
Valuation Fee:
£200
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/23: 2/1% Mortgage Advance
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-
Initial Rate
-
![Santander's logo']()
Santander 2 Year Fixed
-
Initial Rate
1.28% Fixed to 02/03/2023
-
APRC
3.00%
-
Product Fee
£999
-
Monthly Repayment
£584.52
-
Lender:
Santander
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
0%
-
Min Loan:
£6,000
-
Max Loan:
£1,500,000
-
Product Description:
1.28% Fixed to 02/03/2023
-
Incentives:
Free valuation admin fees
free valuation fees (Max £1190) for properties valued Max £2
5M
-
Initial Monthly Repayment:
£584.52 x 27
-
Ongoing Monthly Payments:
£725 x 273
-
Total Amount Payable:
£215,731.04
-
Total Interest Payable:
£63,707.04
-
Valuation Fee:
Free
-
Exit Admin Fee:
£225
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 2/3/23: 3% Outstanding Balance
-
Initial Rate
-
![Coventry BS's logo']()
Coventry BS 2 Year Fixed
-
Initial Rate
1.29% Fixed to 31/12/2022
-
APRC
3.90%
-
Product Fee
£999
-
Monthly Repayment
£585.22
-
Lender:
Coventry BS
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
65%
-
Min Loan:
£0
-
Max Loan:
Varies
-
Product Description:
1.29% Fixed to 31/12/2022
-
Incentives:
Free valuation fees (Max £670)
free legal fees
-
Initial Monthly Repayment:
£585.22 x 25
-
Ongoing Monthly Payments:
£773.52 x 36
-
Total Amount Payable:
£236,459.16
-
Total Interest Payable:
£85,460.16
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/12/22: 2/1% Sum Repaid
-
Initial Rate
-
![Halifax's logo']()
Halifax 2 Year Fixed
-
Initial Rate
1.29% Fixed to 28/02/2023
-
APRC
3.40%
-
Product Fee
£995
-
Monthly Repayment
£585.22
-
Lender:
Halifax
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£100,000
-
Max Loan:
£249,999
-
Product Description:
1.29% Fixed to 28/02/2023
-
Incentives:
Free valuation fees
free valuation admin fees
free legal fees
-
Initial Monthly Repayment:
£585.22 x 27
-
Ongoing Monthly Payments:
£742.53 x 273
-
Total Amount Payable:
£219,506.63
-
Total Interest Payable:
£68,511.63
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/23: 2/1% Mortgage Advance
-
Initial Rate
-
![NatWest's logo']()
NatWest 2 Year Fixed
-
Initial Rate
1.29% Fixed to 31/03/2023
-
APRC
3.30%
-
Product Fee
£995
-
Monthly Repayment
£585.22
-
Lender:
NatWest
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£25,000
-
Max Loan:
£349,999
-
Product Description:
1.29% Fixed to 31/03/2023
-
Incentives:
Free valuation fees
free legal fees
free valuation admin fees
-
Initial Monthly Repayment:
£585.22 x 28
-
Ongoing Monthly Payments:
£741.95 x 272
-
Total Amount Payable:
£219,191.56
-
Total Interest Payable:
£68,196.56
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/3/23: 2/1% Sum Repaid
-
Initial Rate
-
![Royal Bank of Scotland's logo']()
Royal Bank of Scotland 2 Year Fixed
-
Initial Rate
1.29% Fixed to 31/03/2023
-
APRC
3.30%
-
Product Fee
£995
-
Monthly Repayment
£585.22
-
Lender:
Royal Bank of Scotland
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£25,000
-
Max Loan:
£349,999
-
Product Description:
1.29% Fixed to 31/03/2023
-
Incentives:
Free valuation fees
free legal fees
free valuation admin fees
-
Initial Monthly Repayment:
£585.22 x 28
-
Ongoing Monthly Payments:
£741.95 x 272
-
Total Amount Payable:
£219,191.56
-
Total Interest Payable:
£68,196.56
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/3/23: 2/1% Sum Repaid
-
Initial Rate
-
![NatWest's logo']()
NatWest 2 Year Fixed
-
Initial Rate
1.31% Fixed to 31/03/2023
-
APRC
3.30%
-
Product Fee
£995
-
Monthly Repayment
£586.61
-
Lender:
NatWest
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
0%
-
Min Loan:
£25,000
-
Max Loan:
£2,000,000
-
Product Description:
1.31% Fixed to 31/03/2023
-
Incentives:
£250 cashback
-
Initial Monthly Repayment:
£586.61 x 28
-
Ongoing Monthly Payments:
£742.10 x 272
-
Total Amount Payable:
£220,069.28
-
Total Interest Payable:
£68,276.28
-
Valuation Fee:
£248
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/3/23: 2/1% Sum Repaid
-
Initial Rate
-
![Royal Bank of Scotland's logo']()
Royal Bank of Scotland 2 Year Fixed
-
Initial Rate
1.31% Fixed to 31/03/2023
-
APRC
3.30%
-
Product Fee
£995
-
Monthly Repayment
£586.61
-
Lender:
Royal Bank of Scotland
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
0%
-
Min Loan:
£25,000
-
Max Loan:
£2,000,000
-
Product Description:
1.31% Fixed to 31/03/2023
-
Incentives:
£250 cashback
-
Initial Monthly Repayment:
£586.61 x 28
-
Ongoing Monthly Payments:
£742.10 x 272
-
Total Amount Payable:
£220,069.28
-
Total Interest Payable:
£68,276.28
-
Valuation Fee:
£248
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/3/23: 2/1% Sum Repaid
-
Initial Rate
-
![HSBC's logo']()
HSBC 2 Year Fixed
-
Initial Rate
1.34% Fixed to 31/12/2022
-
APRC
3.30%
-
Product Fee
£999
-
Monthly Repayment
£588.69
-
Lender:
HSBC
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
60%
-
Min Loan:
£10,000
-
Max Loan:
£5,000,000
-
Product Description:
1.34% Fixed to 31/12/2022
-
Incentives:
Free valuation fees
free legal fees Remortgages
-
Initial Monthly Repayment:
£588.69 x 25
-
Ongoing Monthly Payments:
£740.35 x 275
-
Total Amount Payable:
£219,312.50
-
Total Interest Payable:
£68,313.50
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/12/22: 2/1% Sum Repaid
-
Initial Rate
-
![Nationwide BS's logo']()
Nationwide BS 2 Year Fixed
-
Initial Rate
1.34% Fixed for 2 years
-
APRC
3.20%
-
Product Fee
£999
-
Monthly Repayment
£588.69
-
Lender:
Nationwide BS
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£25,000
-
Max Loan:
£299,999
-
Product Description:
1.34% Fixed for 2 years
-
Incentives:
Free valuation fees
free valuation admin fees
£500 cashback On Completion or free legal fees
-
Initial Monthly Repayment:
£588.69 x 24
-
Ongoing Monthly Payments:
£744.60 x 276
-
Total Amount Payable:
£220,637.16
-
Total Interest Payable:
£69,638.16
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
1st 2 yrs: 2/1% Outstanding Balance
-
Initial Rate
-
![Nationwide BS's logo']()
Nationwide BS 2 Year Fixed
-
Initial Rate
1.34% Fixed for 2 years
-
APRC
3.30%
-
Product Fee
£999
-
Monthly Repayment
£588.69
-
Lender:
Nationwide BS
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
0%
-
Min Loan:
£25,000
-
Max Loan:
£1,000,000
-
Product Description:
1.34% Fixed for 2 years
-
Incentives:
Free valuation fees
free valuation admin fees
-
Initial Monthly Repayment:
£588.69 x 24
-
Ongoing Monthly Payments:
£744.60 x 276
-
Total Amount Payable:
£221,437.16
-
Total Interest Payable:
£69,638.16
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
1st 2 yrs: 2/1% Outstanding Balance
-
Initial Rate
-
![Nationwide BS's logo']()
Nationwide BS 2 Year Fixed
-
Initial Rate
1.34% Fixed for 2 years
-
APRC
3.30%
-
Product Fee
£999
-
Monthly Repayment
£588.69
-
Lender:
Nationwide BS
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
0%
-
Min Loan:
£25,000
-
Max Loan:
£1,000,000
-
Product Description:
1.34% Fixed for 2 years
-
Incentives:
Free valuation fees
free valuation admin fees
£500 cashback
-
Initial Monthly Repayment:
£588.69 x 24
-
Ongoing Monthly Payments:
£744.60 x 276
-
Total Amount Payable:
£220,937.16
-
Total Interest Payable:
£69,638.16
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
1st 2 yrs: 2/1% Outstanding Balance
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-
Initial Rate
-
![NatWest's logo']()
NatWest 2 Year Fixed
-
Initial Rate
1.34% Fixed to 31/03/2023
-
APRC
3.30%
-
Product Fee
£995
-
Monthly Repayment
£588.69
-
Lender:
NatWest
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
0%
-
Min Loan:
£25,000
-
Max Loan:
£2,000,000
-
Product Description:
1.34% Fixed to 31/03/2023
-
Incentives:
£250 cashback
-
Initial Monthly Repayment:
£588.69 x 28
-
Ongoing Monthly Payments:
£742.33 x 272
-
Total Amount Payable:
£220,190.08
-
Total Interest Payable:
£68,397.08
-
Valuation Fee:
£248
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/3/23: 2/1% Sum Repaid
-
Initial Rate
-
![Royal Bank of Scotland's logo']()
Royal Bank of Scotland 2 Year Fixed
-
Initial Rate
1.34% Fixed to 31/03/2023
-
APRC
3.30%
-
Product Fee
£995
-
Monthly Repayment
£588.69
-
Lender:
Royal Bank of Scotland
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
0%
-
Min Loan:
£25,000
-
Max Loan:
£2,000,000
-
Product Description:
1.34% Fixed to 31/03/2023
-
Incentives:
£250 cashback
-
Initial Monthly Repayment:
£588.69 x 28
-
Ongoing Monthly Payments:
£742.33 x 272
-
Total Amount Payable:
£220,190.08
-
Total Interest Payable:
£68,397.08
-
Valuation Fee:
£248
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/3/23: 2/1% Sum Repaid
-
Initial Rate
-
![Skipton BS's logo']()
Skipton BS 2 Year Fixed
-
Initial Rate
1.34% Fixed to 31/01/2023
-
APRC
3.80%
-
Product Fee
£995
-
Monthly Repayment
£588.69
-
Lender:
Skipton BS
-
Max First Time Buyer LTV:
60%
-
Max House Purchase LTV:
60%
-
Max Remortgage LTV:
60%
-
Min Loan:
£5,000
-
Max Loan:
£1,000,000
-
Product Description:
1.34% Fixed to 31/01/2023
-
Incentives:
Free valuation fees
free legal fees Remortgages
free valuation admin fees
-
Initial Monthly Repayment:
£588.69 x 26
-
Ongoing Monthly Payments:
£747.15 x 36
-
Total Amount Payable:
£237,063.42
-
Total Interest Payable:
£85,973.42
-
Valuation Fee:
Free
-
Exit Admin Fee:
£95
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 31/1/23: 2/1% Outstanding Balance
-
Initial Rate
-
![TSB's logo']()
TSB 2 Year Fixed
-
Initial Rate
1.34% Fixed to 28/02/2023
-
APRC
3.20%
-
Product Fee
£995
-
Monthly Repayment
£588.69
-
Lender:
TSB
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£5,000
-
Max Loan:
£1,000,000
-
Product Description:
1.34% Fixed to 28/02/2023
-
Incentives:
Free valuation fees
free legal fees
-
Initial Monthly Repayment:
£588.69 x 27
-
Ongoing Monthly Payments:
£742.90 x 273
-
Total Amount Payable:
£219,701.33
-
Total Interest Payable:
£68,706.33
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/23: 2/1% Sum Repaid
-
Initial Rate
-
![TSB's logo']()
TSB 2 Year Fixed
-
Initial Rate
1.34% Fixed to 28/02/2023
-
APRC
3.20%
-
Product Fee
£995
-
Monthly Repayment
£588.69
-
Lender:
TSB
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£5,000
-
Max Loan:
£1,000,000
-
Product Description:
1.34% Fixed to 28/02/2023
-
Incentives:
Free valuation fees
free legal fees
£150 cashback
-
Initial Monthly Repayment:
£588.69 x 27
-
Ongoing Monthly Payments:
£742.90 x 273
-
Total Amount Payable:
£219,551.33
-
Total Interest Payable:
£68,706.33
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/23: 2/1% Sum Repaid
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-
Initial Rate
-
![Lloyds Bank's logo']()
Lloyds Bank 5 Year Fixed
-
Initial Rate
1.39% Fixed to 28/02/2026
-
APRC
3.00%
-
Product Fee
£999
-
Monthly Repayment
£592.18
-
Lender:
Lloyds Bank
-
Max First Time Buyer LTV:
0%
-
Max House Purchase LTV:
0%
-
Max Remortgage LTV:
60%
-
Min Loan:
£100,000
-
Max Loan:
£249,999
-
Product Description:
1.39% Fixed to 28/02/2026
-
Incentives:
Free valuation fees
free legal fees
-
Initial Monthly Repayment:
£592.18 x 63
-
Ongoing Monthly Payments:
£723.33 x 237
-
Total Amount Payable:
£209,735.55
-
Total Interest Payable:
£58,736.55
-
Valuation Fee:
Free
-
Exit Admin Fee:
£0
-
Early Repayment Charge:
Yes
-
Early Repayment Charge Details:
to 28/2/26: 5/4/3/2/1% Sum Repaid
-
Initial Rate
Your home may be repossessed if you do not keep up repayments on your mortgage.
The mortgage data above was supplied by Moneyfacts Group Plc and is updated at the time of mortgage search. The figures and data provided in our tables are for illustration purposes only. While we make every effort to ensure the accuracy of this data you should always confirm the terms on offer with the provider/broker. We do not give any financial advice.
Our mortgage comparison service is partnered with L&C Mortgages for selections made outside of our featured lenders. Featured lenders are firms with whom we have a direct commercial relationship.
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.
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