What Different Types Of Mortgage Are Available?

You will normally have to choose between an interest only mortgage and a repayment mortgage. With interest only, the amount you pay each month will cover the interest on your mortgage, but none of the capital meaning you will need to save in order to pay back the amount you borrowed in full. With a repayment mortgage, the monthly repayment you make will include the interest as well as some of the capital. Other mortgage types available include buy-to-let mortgages, combination and offset mortgages. 

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