Mortgage Payment Terms

Mortgage Payment Terms

 

Choosing a mortgage can be confusing as there are different types of mortgages available for you to choose from. Below we have explained the payment terms that are available and we can help you choose the best fit for your mortgage needs.

Capital & Interest Repayment Mortgage

This is where your repayments cover both capital and interest, which means that your loan will be fully repaid at the end of the term.

Interest Only Mortgage

With an Interest Only Mortgage, repayments cover the interest element of your loan and not any of the outstanding loan (capital). The actual amount of capital borrowed must be repaid in full at the end of the agreed term of the mortgage. It is therefore vital that there is a realistic repayment plan in place. You should seek independent investment advice regarding a suitable repayment vehicle. We do not offer this payment option as standard, but if you are switching from another provider you may already be on an interest only mortgage and may want to consider reviewing your repaymen​t options.

The Interest Only option is not available on Danske Re:pay accounts. For more information on Existing Interest Only Mortgages click here.

Up to 30 Year Mortgage Term

For residential mortgages, you can choose any repayment term up to 30 years.

Mortgages in Retirement

You will be required to provide us with evidence of affordability in retirement if the mortgage term takes you beyond normal retirement age.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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 Base Rate Tracker
Base Rate Tracker Mortgage
  • Available to both new & existing Danske Bank customers
  • Choose a repayment term that suits you
  • No restrictions on loan overpayments or lump sum payments
 Fixed Rate
Fixed Rate Mortgage
  • Available to both new & existing Danske Bank customers
  • Choose from a range of Fixed Rate home loan terms
  • Preferential rates for customers with a lower loan to value
 Danske Re:pay
Danske Re:pay Mortgage
  • Save on interest charges by combining your mortgage, current account and savings into one account
  • Flexible borrowing
  • Stay in control of your money with a built in safety limit
 Bridging Loan
Self Build Home Loan
  • No restrictions on making over payments or lump sums
  • No Early Repayment Charges
  • Borrow from £10,000
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