Mansfield Financial Planning Services

Capital and interest

This is the simplest type of mortgage. The payments you make to the lender every month pay off both the capital and the interest from the loan. Provided you keep up the payments, you are guaranteed to pay off the loan by the end of the term agreed (usually 25 years).

The lender calculates your monthly repayments depending on the amount borrowed, how long for, the interest rate & how the rate you have chosen is set.

We usually charge a broker fee of between 0.5% and 2.5% of the loan amount, this is payable on completion.  For example, based on a £100,000 mortgage advance, the fee would be £500 at 0.5% or £2,500 at 2.5%.  The percentage charge or total fee will be made clear at the outset.  We will also be paid commission by the lender.  The actual amount charged will depend on individual circumstances, however typically our broker fee is 0.5% of the loan amount.