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Repayment

How does it work?

You borrow a lump sum over a fixed period of time (usually 25 years but can be shorter or longer). You pay the interest and some of the capital on a monthly basis to the lender.

ADVANTAGES:

  1. Some flexibility with repayments.
  2. The only way you can be 100% certain the loan will be repaid, providing repayments are maintained.

DISADVANTAGES:

  1. Monthly mortgage payments may be higher than interest only mortgages covered by an investment/life assurance to repay the capital.
  2. Only a small amount of capital is paid off in the early years as the monthly mortgage payment consists of a higher proportion of interest to capital repayment.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

We offer independent mortgage advice from the whole market, for this service we charge a fee, typically 0.75% of the loan amount, however any commission we receive from the lender (typically 0.40% of the loan amount) will be refunded to you/offset against our fee.


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Company addresses:

Melton Mowbray Office
Mill Lane Asset Management
20 Norman Way
Melton Mowbray
Leicestershire, LE13 1JE
T: 01664 483124

Email: Melton@MillLane.com

Oakham Office
Mill Lane Asset Management
Knights Yard, Gaol Street
Oakham
Rutland, LE15 6AQ
T: 01572 757587

Email: Oakham@MillLane.com

Registration address as Melton Mowbray office address
Registration number: 03568547
Registered in: England

Mill Lane Asset Management Ltd is An Appointed
Representative of Sesame Ltd., which is authorised and
regulated by the Financial Services Authority

Sesame Ltd is entered on the FSA register
(www.fsa.gov.uk/register/) under reference 150427.

The FSA do not regulate National savings products, loans,
Will writing, Commercial Mortgages and some forms of buy
to let mortgages, offshore funds and inheritance tax
planning.

The guidance and/or advice contained within the website is
subject to the UK regulatory regime and is therefore
targeted at consumers based in the UK.

Telephone: 01664 483124 | enquiries@MillLane.com

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