Capital and interest
Monthly repayments to a lender are made up of interest and capital which reduces the mortgage debt over time (also known as a repayment mortgage).
Your home may be repossessed if you do not keep up repayments on your mortgage.
Finance Advice Centre Ltd is authorised and regulated by the Financial Conduct Authority in respect of consumer credit activities. Finance Advice Centre Ltd is an Appointed Representative of Finance Advice Group Ltd which is authorised and regulated by the Financial Conduct Authority under number 624517 in respect of mortgage and insurance mediation activities only.