Below we have outlined the most common questions asked about mortgages. Please click on a question to get the relevant answer.
The Compare and Buy Tables Costs Jargon Buster How long will I have a mortgage for? What is an APR? Do I have to have life insurance to get a mortgage? How much can I borrow? What is a higher lending charge (HLC)? Can I get a mortgage before I find a property? Can I get a mortgage even if I have a bad credit history? What happens if I lose my job? What types of mortgage are there? How do I repay my mortgage?
The standard way of repaying a mortgage is through regular monthly instalments until the entire loan has been repaid. There are, however, different ways of repaying the mortgage depending on your policy.
Another form of repayment is the interest only repayments, which means that you only ever pay the monthly interest on the property until the end of the term when you pay the rest of the mortgage off as one lump sum. This usually involves some type of regular investment with the hopes that it will earn you enough to pay back your loan.
Only Finance Ltd is authorised and regulated by the Financial Services Authority, FSA registration number: 466941. Our registered offices are 1 Kings Avenue, Winchmore Hill, London N21 3NA, company number: 05640662. Telephone 0207 377 1805.