This is a brief summary of the 3 different types of mortgages we offer
The graphs are for illustrative purposes only.
For an in-depth comparison of the mortgage types on offer read our guide to mortgages
Your monthly payment covers both the amount you’ve borrowed and interest. So as long as you keep up your payments, your mortgage will be paid off at the end.
Your monthly payment only pays off the interest. You’ll still need to repay the amount you borrowed at the end of your mortgage and will need a separate plan in place to do this (such as an investment or endowment). We may limit the amount allowed on interest only.
You can choose to pay part of your mortgage as repayment and the other part as interest only.
Before applying for a mortgage, you'll first need to get a decision in principle (DIP) from us online or by phone. A DIP tells you if we could lend you the amount that you need for your mortgage. It also won't affect your credit rating.