Home Mortgages Mortgage & rate types Repayment Mortgages

Repayment Mortgages

A simple, straightforward mortgage

Every month, your payments cover the interest you owe and a little of the money you borrowed. As time goes by and your overall debt gets smaller, the amount you owe in interest reduces, so more of your monthly payment goes towards paying off the money you borrowed.

Key features

  • borrow a minimum of £10,000 over 2 to 40 years
  • if you keep up-to-date with payments, you’ll be mortgage-free at the end of the term
  • you can make unlimited overpayments each month, year or in lump sums, which can help save money on interest and mean you’ll pay off your mortgage faster – but Early Repayment Charges may apply.

Things to bear in mind

  • an Early Repayment Charge may apply if you choose to fully repay your mortgage, depending on your interest rate
  • we don’t lend for business purposes or Buy to Let.

Find a Repayment Mortgage for you

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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Mortgage guides

Don’t know your APRs from your elbow? Whether you’re a first time buyer, remortgaging your current house, moving to a new place or an existing customer, we’ve got a handy guide for you.

See all our mortgage guides