what is the differnt between repayment mortgage and intrest only mortgage and witch one better domictice use?

Question

what is fixed rate, and flexable, and trucker. and verable rate can you please explain what the differnt between them.

Answer 1

Repayment - this means that each month you pay INTEREST plus a little bit of the loan. After (typically) 25 years you have paid it all off and owe nothing.

Interest Only - this means each month you only pay the INTEREST. So it's cheaper 'per month' BUT after (typically) 25 years you STILL have to pay back the original loan. This is OK if you plan to sell the house (eg 'buy to let') but not so good if you expect to carry on living in the house ...

The other terms you have miss-spelt are just different ways of working out the Interest ..

Answer 2

A Fixed rate mortgage is one where your lender will offer you fixed repayments, regardless of changes interest rates, over a set amount of time.
Standard Variable Rate mortages follow the changes in interest rates - if they rise, so do your repayments, if interest rates fall, so do your repayments.
Tracker mortgages are also variable rate mortgages, but will always be at the same limit or percentage above the base rate.
Flexible mortgages often combine a period of fixed rate (usually anything up to 5 years) and variable rate (usually for the remainder of the loan term), and may offer deferred payments for 3 months, payment holidays etc.

Answer 3

interest only mortgage means you pay only interest, and i think it has a verable rate, repayment i believe you pay the whole loan back on a fixed 10,20,30, years whatever you have

Answer 4

Your English is coming along well. Sense is beginning to appear. You could probably now make your way to a mortgage broker who will apprise (Tell you all about) the things you ask.