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Find out what your monthly repayments might be.

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  What our clients say..
 
  • “Always on hand with advice, and excellent at coming back to us quickly with all the information we need, I woudn't hesitate to recommend Gerry to anyone looking to arrange a mortgage”
    Roisin McNeill, Glasgow, August 2012

  • “Gerry helped us buy our first family home. Buying a home can be stressful but Gerry made sure that we could concentrate on fidning the right home for us and our two boys”
    Andrew & Elly Tolmie, Edinburgh, August 2012

 
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Repaying your Mortgage

There are two (or three if these two are combined) ways of making monthly payments on your mortgage:

Repayment Mortgage – a mortgage that pays off both the home loan and the interest at the same time. The amount outstanding will therefore reduce over the term. If you make all the repayments when they are due, then the mortgage will be guaranteed to be repaid at the end of the term.

Interest Only Mortgage – with this method the initial loan amount remains the same throughout the term of the loan, while your monthly mortgage repayments only pay the interest being charged on the loan each month. This means you are not reducing the loan amount (or capital) itself, and this will need to be repaid in some other way. The proposed method of repaying the capital will usually have to be stated at the time of the application and some lenders will

There is also an option to select a “split” or “part-and-part” loan: a mortgage that is taken partly on a Capital and Interest basis and partly on an Interest Only basis.

 
 
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WARNING: YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Cornerstone Mortgage Consultants is authorised and regulated by the Financial Services Authority for advising on and arranging mortgages and insurance.
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