Probably at the moment the most popular mortgage.

This type of mortgage consists of capital and interest payments.

At the end of the term your mortgage will definitely be paid off.

However during the early years contrary to popular belief, you are paying mainly interest and so if you were to redeem your mortgage in say 5 or 6 years you would find that you would have paid off very little of your mortgage, plus if you are moving to a new property you would have to start again with a new repayment plan.

This plan is very advisable for purchasers who intend to reside in their property for a long time. It is also advisable to have life cover to protect your mortgage exposure.

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