You must make separate arrangements (e.g. endowment policy, investment portfolio, pension plan, stocks and shares etc.) to build up a lump sum to pay off the whole amount you originally borrowed in one go at the end of the term. It is important that you know how the mortgage will be repaid because we will not arrange the repayment vehicle for you – it’s a condition of the loan that you have one in place.

Alternatively, you can choose to split your loan and pay some on a repayment basis and the rest on an interest-only basis. You would still need to arrange a repayment scheme for the amount of loan you have borrowed on an interest-only basis.

Your monthly premium is the sum you pay towards your associated repayment vehicle.