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 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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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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Examples of Repayment Mortgage in a sentence

  • This may mean you pay more interest over time if we do not change the Monthly Payment, or your Monthly Payments do not clear the Amount You Owe at the end of the Mortgage Term even on a Repayment Mortgage.

  • The Mortgage Offer will say whether you have 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 part of Your Mortgage is on this basis (as set out in the Mortgage Offer), then when we refer to a Repayment Mortgage in these Mortgage Conditions, we mean that part.Standard Variable Rate means the standard variable lending rates we set and vary from time to time in line with section 16.Tariff of Charges means our tariff of fees and charges regarding Your Mortgage that we charge in line with section 7.

  • A Repayment Mortgage involves a single monthly payment to the lender.

  • 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.

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

  • In addition, should a Borrower elect, subject to the agreement of the Seller and the Servicer, to change the terms of their Mortgage Loan from an Interest Only Mortgage Loan to a Repayment Mortgage Loan or Part and Part Mortgage Loan, the Issuer would receive principal payments in respect of the relevant Mortgage Loan earlier than would otherwise be anticipated.

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  • 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.