A repayment mortgage allows you to pay off interest and a bit of the capital for each payment each month. Then at the end of the term, which is usually 25 years or less you own the property.

You may be able overpay a certain amount each month. This will allow you to pay the mortgage early and therefore would have also paid less interest. In addition to this, if you have made over payments they may also allow you to withdraw these later. For example say you over paid for 6 months by Â£50. Then in the 7th month you wish to take all of your overpayments back. As you have over paid by Â£300 (6 months at Â£50) which will mean you can take back Â£300 from your mortgage. This varies from mortgage to mortgage so you will have to read their terms and conditions before signing up with them.

FREE Property Advert
Selling or Letting? List Your Property FREE Now!

FREE eBook worth £47
How To Sell Or Let FASTER and Save £1000s!

For Sale Boards & To Let Signs
Save £1000s, Sell or Let your property with a sign!

Mortgages
Fixed Rate, Capped, Tracker... We explain them all. Plus compare 1000s mortgages online.

Home Insurance
Compare Buildings and Contents Insurance. Get a Quote Now!

Home Information Packs
Now SCRAPPED! Find out More!

Conveyancing
Get a Quote and Save £100s.

Tenancy Agreement
Get Your Tenancy Agreement Here.

Tax Guides
How To Avoid Property Tax and Save £1000s

Guides
Buyers
Landlords
Sellers
Tenants
Free ebook
For Sale & To Let Boards

Finance
Credit cards
Loans
Mortgages
Savings

Legal
Building survey
Conveyancing
Credit checks
EPCs
Gas safety certicates
HIPs
Inventory checklist
Tenant deposit scheme
Tenant reference checks
Tenancy agreements

Insurance
Heating insurance
Home insurance
Landlords insurance
Rent guarantee

Moving
House removals
Moving boxes
Self storage
Van rentals

Utilities
Broadband
Electricity
Gas
Home phones
Mobile phones

Books
Tax guides

Search For
Property For Sale
Property For Rent
House Prices
Agents