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Welcome
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| Previous | Repayment
Requires you to make monthly payments to the lender, which consists of both capital and interest. The mortgage will gradually be repaid over the term of the loan
You only pay the lender interest only during the term of the loan. At
the end of the term the borrowed capital will need to be paid. There are
several ways in which this capital can be paid, normally by having contributed
to an appropriate investment contract, designed to pay the mortgage at
the end of the term, e.g. Individual savings accounts, endowments and
pension plans. |
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