Part and part

Remortgage types - Fresh Start (...) >> Repayment Methods >> Part and part

Part and part remortgages are a combination of both interest only and repayment (capital and interest) remortgages. Fresh Start Finance specialises in finding the best low APR remortgage and loan deals for you - even if you have a bad credit history. Call us now on 0800 389 6345 for an instant decision on a part and part remortgage, or to enquire about any other type of loan or remortgage.

Apply for a low APR part and part remortgage with Fresh Start Finance

What is a part and part remortgage?

As the name suggests, part and part remortgages offer a combination of the two most popular types of remortgage - repayment and interest only. With an interest only remortgage you pay off the monthly interest, not the capital itself. With a repayment remortgage your monthly sum covers both the interest and a small percentage of the capital, so you are effectively paying the remortgage loan off in instalments. You choose what percentage of the loan you would like to pay off under each type of repayment plan.

Why get a part and part remortgage?

With an interest only remortgage there is a risk that you may not make enough returns to cover the capital at the end of the remortgage term. However, with repayment (capital and interest) remortgages you pay a higher monthly fee and may take over 25 years to pay the sum off. Many people opt choose a part and part remortgage to try and maximise the benefits of both types, with less associated risk. For example, a remortgage loan may be £150,000. You might choose to pay £100,000 as a repayment remortgage and £50,000 as an interest only deal.

This is a more complex way of handling your remortgage, so it’s wise to ensure that you have discussed this with a professional advisor, and made sure that you have sufficient investment plans for your money.

Apply for a low APR part and part deal with Fresh Start Finance

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