Rainbow can assist in arranging Capital Repayment Mortgages...

In this form the borrowers monthly payment is split into two parts. One part of the payment pays the interest required whilst the other part funds repayment of the actual mortgage loan. These mortgages are normally structured over a 25-year period, primarily due to average affordability in relation to monthly payments. After the 25yrs the mortgage is certain to be repaid ant the property will be owned outright. This is the primary reason for choosing to structure a mortgage this way. 

 

 

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This form will allow a mortgage specialist to find you the best quotes from their product range, with good or poor credit.

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Mortgage details

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Select the type of loan you require, if unsure select other
Enter the amount you wish to borrow e.g. 100,000
Enter the value of your property e.g. 150,000
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Property details

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Your current home address
How long have you lived at this address
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Your details

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Your full name e.g. Mr John Smith
Your date of birth
Your home telephone number e.g. 01234 567890
Your work telephone number e.g. 01234 567890
Your mobile phone number e.g. 07710 567890
Your email address e.g. test@example.com
Do you have any County Court Judgements?
Do you have any Individual Voluntary Arrangements?
Have you ever missed payments?
Have you ever declared bankruptcy?

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In many cases lenders will allow overpayment of capital repayment mortgages this reducing the term and repaying the loan earlier. The benefit of doing this is two fold. Firstly the property is owned outright earlier and secondly as the loan is paid off earlier it naturally means that there will have been less interest paid I regard to the debt.

Some mortgage lenders will also allow you to redeem the overpayments made. Thus if the borrower was to over pay by £100 per month for a year he or she could then access the £1200 overpayment should they need to.