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Buying your Home
Repaying the loan: There are basically two types of mortgages:.Interest only: You do not actually repay any of the capital
debt to the lender. Your monthly payments are just interest on the capital
sum. In order to accumulate enough money to pay off the debt at the
end of the mortgage term you are required to set up a separate savings
scheme. This may be an endowment
policy, a pension or
an ISA.
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REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser. |
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