Repayment Mortgage definition

Repayment Mortgage means a Mortgage under the terms of which monthly instalments covering both interest and principal are paid by the Borrower until the Mortgage is fully repaid by its maturity in accordance with the relevant Mortgage Conditions;
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Repayment Mortgage means a Loan where the principal and Interest is intended to be repaid over the Repayment Term by regular Monthly Payments.
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Repayment Mortgage means a loan under which each monthly payment includes a repayment of the capital element of the mortgage debt as well as a payment towards interest. This is identified in the offer.
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Examples of Repayment Mortgage in a sentence

  • The Mortgage Offer will say whether you have a Repayment Mortgage.

  • If a pending charge results in a conviction, disciplinary action, including continued suspension and/or termination, may result.

  • In the event that you do not for any reason keep up any Life Policy taken out in relation to an Interest Only Mortgage, we reserve the right toconvert your Mortgage to a Repayment Mortgage, subject to a financial review.

  • Repayment Mortgage:If you have a Repayment Mortgage withthe Society the payments made comprise Capital and Interest.

  • Repayment Mortgage If you have a repayment Mortgage with us, the Monthly Payments made to us comprise both capital and Interest.

  • There is no life cover in force in connection with a Repayment Mortgage unless you have made separatearrangements for this.

  • In the event that you do not for any reason keep up any Life Policy taken out in relation to an Endowment Mortgage, we reserve the right to convert your Mortgage to a Repayment Mortgage.

  • Should a Borrower elect, subject to the consent of the Seller and the Servicer, to amend the terms of its Mortgage Loan from an Interest Only Mortgage Loan to a Repayment Mortgage Loan or a Part and Part Mortgage Loan, the relevant Mortgage Loan would remain with the Issuer as part of the Mortgage Portfolio, resulting in the Issuer and Noteholders receiving redemption payments on the relevant Mortgage Loan and the relevant Notes respectively, earlier than would otherwise have been the case.

  • If wedeem that an adequate repayment method is not in place we will, subject to us undertaking a financial review of the circumstances in accordance with our responsible lending policy, convert your Mortgage to a Repayment Mortgage in order that your Monthly Payment will comprise capital as well as Interest.

  • If you require a certificate of loan interest covering a different timescale, for example covering the HMRC tax year or other financial years, this fee covers the administration costs of calculating the split of interest over the required period and producing each separate certificate.Owner Occupier Mortgage: Change from Interest-Only to Repayment Mortgage - No Charge There is no charge for restructuring your mortgage and informing you of the amendments to your mortgage account.