Creative Financial

Mortgage Advice

Not only do you need to consider which mortgage is best for you, you also need to think about which interest rate options are most likely to suit your needs.

We understand how important a decision getting a mortgage is. It's not just about taking out a mortgage, it's getting the keys to your new home, improving the one you've already got or building up your property portfolio.

While we do not provide mortgage advice, we work closely with independent whole of market mortgage advisers. If you are interested in a mortgage, we can introduce you to an Independent Mortgage Adviser who will be able provide you with mortgage advice.

Your property may be repossessed if you do not keep up repayments on your mortgage.



How do I repay my Mortgage?

Mortgages should be straightforward - you borrow money to buy a house and pay interest on the loan. In a hugely competitive market, building societies and banks are continually updating and extending their range of mortgages.

The most important points are how you pay back the capital you borrow and how you pay the interest on it.

You can either pay the capital a little at a time as you go (repayment mortgage) or pay it all off at the end.



Paying back capital

Paying back the capital on your mortgage

You can either pay a little at a time as you go (repayment mortgage) or pay it all at the end (interest only).

Repayment

Repayment mortgages

Each monthly payment pays off a little of the underlying debt, as well as interest on the loan. At the end of the repayment term providing all payments have been made in full and on time the mortgage will be repaid in full.

Interest Only

Interest only mortgages

With this type of mortgage, you pay-off the interest on the loan but not the capital. Then at the end of the mortgage term it is your responsibility to repay the capital.