What the numbers mean
IMPORTANT: These figures are a guide only. We recommend that you obtain exact figures from a mortgage adviser before committing to any mortgage.
'Monthly Repayment' shows the total monthly payment for a straight repayment mortgage, including both interest and payment towards the capital loan amount. Paying this reduces the amount owed on the capital every month.
'Monthly Interest Only' shows the amount payable per month to pay off the interest only, not the capital.
People taking out an interest only mortgage - such as linked to an endowment, ISA or pension savings policy - will need to add the cost of the monthly premiums of the policy to the interest figure above. On maturity the savings policy is intended to pay off the capital loan.
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