An annuity mortgage involves fixed monthly payments that cover both interest and principal, starting with higher interest portions and gradually shifting towards repaying the principal, ensuring the loan is paid off by the end of the term.
A linear mortgage has fixed principal repayments each month, with decreasing interest payments over time. Monthly payments start higher but decrease, resulting in less overall interest paid compared to other mortgages.
A linear mortgage has fixed principal repayments each month, with decreasing interest payments over time. Monthly payments start higher but decrease, resulting in less overall interest paid compared to other mortgages.
With an interest-only mortgage, you pay only the interest for a set period, resulting in lower initial payments. The principal remains unchanged, and repayment or refinancing is required after the interest-only period ends.
A savings mortgage combines a mortgage with a savings account, where you save regularly to pay off the principal at the end of the term while only paying interest during the mortgage period, often with tax advantages.
A savings mortgage combines a mortgage with a savings account, where you save regularly to pay off the principal at the end of the term while only paying interest during the mortgage period, often with tax advantages.
