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Mortgages can be confusing. So let's look at the kinds of decisions you'll need to make when choosing a mortgage.
How you pay your mortgage, and what your monthly payments are made up of, depends on your payment type. You can make payments on a capital repayment basis, an interest only basis, or a combination of the two.
Your mortgage term is the amount of time over which you pay your mortgage. We offer terms up to 40 years – you choose this when you take out your mortgage, but you can change your term during the lifetime of your mortgage.
Figures are based on a mortgage of £160,000, with an APRC (Annual Percentage Rate of Charge) of 4%.
Your interest rate won't change as long as you don't make any changes to your mortgage – so you'll pay the same amount each month during the deal period.
Your interest rate will change if the Bank of England base rate changes. This means your payments could go up or down during the deal period.
* Rates shown are initial rates and are shown for illustrative purposes only – take a look at our rates for more information.
Need help choosing the right mortgage for you? Call us on 0800 30 20 10 or pop into your nearest branch