Mortgages ...

About Repayment Mortgages

Moving twice, but taking a new 25 year loan with each move.

Again, we assume that the borrowers start with a mortgage of £50,000 over a 25 year term. They move after 5 years, increasing their mortgage by £25,000. They move again 5 years later, increasing their mortgage by a further £25,000.

Taking into consideration the portability and flexibility of an endowment policy, the cost different on this example is £55.94 and this saving should be greater should you move more times.

Compare this to an endowment.

Years Balance


£
Payment to Lender

£
Mortage
Protection Premium
£
Total Monthly Payment
£
1-5 50,000 303.09 24.24 327.33
6-10 69,380 420.56 48.27 468.83
11-25 86,581 524.83 88.16 612.99

Repayment
Mortage Interest @ 5.25%

Loan Repayment

Policy Premiums
£100,868

£100,000

£30,799
Total Cost £231.667
Estimated Policy

Proceeds
N/A
NET Cost of Loan £231,667

*This example is for information purpose only, no advice is being given. The Airline Mortgage Company do not take any responsibility for any action you might wish to take with view to surrounding endowment policies from the advice of 3rd parties.

Related Links


The Airline Mortgage Company
Park Inn Heathrow London
Bath Road
Heathrow
Middlesex
UB7 0DU

T: +44 (0)870 442 9737
F: +44 (0)870 442 9727
E: info@airlinemortgage.com