You can choose a combination mortgage. This can consist of interest-only parts,
repayment parts, or a combination of both of these methods of mortgage repayment.
Example:
A £120,000 mortgage could be split into a combination of two parts:
£20,000 by repayment over 15 years
£100,000 by interest-only over 10 years
Please note that for any part of a mortgage which is interest-only, the capital must be repaid by you at the end of its term.
Therefore for any such interest-only element, you must make arrangements to set up a savings or investment scheme which will provide
sufficient funds to repay the capital.
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