Repayment mortgage
Mortgages & secured lendingA mortgage where you repay both interest and the original balance each month.
Overview
Most UK mortgages are repayment mortgages.
Your balance reduces over time as you make payments.
Why it matters
- It steadily reduces your debt.
- It provides a clear path to owning the property.
- It is typically the standard option for borrowers.
FAQs
Is a repayment mortgage safer than interest-only?
It can be, because you are paying down the balance each month.
Can I switch from interest-only to repayment?
Sometimes, but it depends on lender criteria and affordability.
Related terms
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