What is a repayment mortgage?
Question asked by: mrquestion
Asked on: 05 Jan 2010
A repayment mortgage is one in which you pay off the mortgage gradually over the course of the product being held.
For instance if you have a £100k mortgage then you start mainly paying off the interest and the capital sum barely reduces for the first few years, but after that it starts to go down quite reasonably and so on in the end at the end of the mortgage term you will pay off the interest and the mortgage amount.
By: knowitall
Replied at: 05 Jan 2010
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