Liberty Partnership

Financial Services Cambridge: What Are The Advantages Of Having A Repayment Mortgage?

Financial services Cambridge cover a variety of different financial elements. If you have any queries about how to make your money work harder for you and give you a good return, then contacting an independent financial advisor is the best thing to do. Mortgages can often raise many questions.

There are many different types of mortgage, and equally, various different ways of repaying them. An expert who deals in Cambridge financial services will be able to discuss the technical detail of each one with you, and clarify the advantages and disadvantages of each. What are the advantages, for example, of a repayment mortgage? The main benefit is that, at the end of the mortgage term, the loan will be entirely paid off. This means that you will own your home outright; therefore, if you choose to sell it, you won’t have to spend any money in paying off the remaining mortgage. This could be done to fund a retirement, for example. Paying off a mortgage in this way also means that you won’t need to organise an additional savings vehicle. This might be an investment or ISA, for instance, that would be used to pay off the big loan payment at the end of an interest-only mortgage. With some mortgages, there is also potential for you to make overpayments on a repayment mortgage, when you have capacity, to reduce the length of the loan. Your financial advisor Cambridge will be able to offer further information on this when you discuss the type of mortgage that is right for your financial and life circumstances.

Finding the right mortgage can be complicated, which is why it is best to employ experienced financial services Cambridge based. Liberty Partnership Ltd has a team of experts who can help you make the most of your money. See our website at https://liberty-partnership.co.uk for details. If you have any questions, please get in touch on 01778 342291 or advice@liberty-partnership.co.uk.