The only payment type we currently offer is capital repayment. This means part of your monthly payment goes into paying back the lump sum you borrowed, while the rest covers the cost of interest. As long as you keep up your monthly mortgage payments, your mortgage will be paid off in full by the end of your mortgage term.
Other lenders may offer interest-only mortgages and part and part mortgages, which are a combination of interest-only and capital repayment. We no longer offer either of these payment types. If you have an existing interest-only mortgage with Nationwide, you may be able to take it with you to your new property. However, you won't be able to take out any additional borrowing on an interest-only basis.