The basics of offshore and expatriate finances. For example, if a car is essential to doing your job, you really don't want it repossessed. These mortgages can be repayment or interest only and you just make one payment a month to them. Early repayment charges may apply. redundancy payments act 1965 Useful if you like having your mortgage separate from other borrowings and savings you have. Some lenders offer new borrowers a variable rate mortgage with a cashback. early repayment mortgage

An endowment is an investment plan with built- in life assurance which will pay off the loan if you die before the end of the mortgage term. There are plenty of providers in this increasingly competitive market, so seek the advice of a broker or your local citizens advice bureau. They may let you reduce your payments temporarily, for example, switch to just paying off the interest for a while. Potential ‘shortfall’ in value of fund when mortgage is due to be repaid. Repayment - you pay off the mortgage as you go along as well as paying interest so by the end of the term there's nothing left to pay. With an interest- only mortgage , your payments cover the interest on the mortgage, but not the capital the amount you originally borrowed. morgages

Early repayment charges may apply. Discounted rate - you get a discount off the lender's base rate or svr for a set period, which may represent a valuable saving. However, if the deal your lender offers falls woefully short of what you had in mind, then move onto other lenders.