Residential Mortgage Rates
Mortgage rates for private customersYou can repossess your home if you do not maintain your mortgage payments.
Mortgages categories
A principal repayments mortgage means that your payment will cover the interest on your mortgage and reduce the amount due each months according to the chosen redemption period. You can use this kind of mortgage to make sure that your mortgage is fully repaid at the end of its life, provided you keep up with your mortgage repayments.
Which you get with a principal mortgage: At the end of the maturity period, the retirement date on a lump-sum redemption base is 75 years (depending on status). In the case of collective candidatures, this shall be the oldest party's highest possible date. A pure interest mortgage means that your interest rate per month only pays the interest calculated for your mortgage.
It is your responsibility to make your own arrangement for the reimbursement of your mortgage at the end of its life. Provide evidence that you have an appropriate redemption instrument, e.g. you can use a life insurance product, another asset management scheme or a retirement saving scheme. If you do not have enough money to pay back the principal amount due at the end of the lease period, your real estate can be taken back.
This is what you get with a pure interest mortgage: Only interest - your initial loan amount will remain unpaid for the entire life of the mortgage and your interest only will be covered by your interest only. Interest-rate mortgage loans have a lower credit line - up to a ceiling of 75% of the sale value or value of your real estate (whichever is lower).
At the end of the maturity period, the upper limit for a pure interest rate base is 65 years old (status-dependent). In the case of collective candidatures, this shall be the oldest party's highest possible date. You can repossess your home if you do not maintain your mortgage payments.