With so many choices and options available plus so much industry jargon,
it can be difficult to decide which mortgage is best for you! OFM
is committed to providing every client with the best possible product,
tailored to suit your individual needs. To help you to choose the
best mortgage, take a look at the following options:
Your monthly
mortgage repayments comprise of capital and interest payments combined
so that by the end of the mortgage term, you have paid off the original
amount borrowed plus any interest that has been accrued. This type
of mortgage is therefore suitable for people who want the peace
of mind of knowing that their mortgage will be paid in full at the
end of the term.
An interest only
mortgage is structured so that only the interest is paid back to
the lender each month. The original loan amount remains the same
for the term of the loan. A suitable investment plan is usually
set up in order to repay the loan at the end of the term e.g. an
endowment, an ISA or pension plan.
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