Repayment Mortgages

A Repayment mortgage (also referred to as a Capital and Interest mortgage) is a mortgage where the monthly repayments cover the cost of repaying the capital amount borrowed as well as the accrued interest.  This means that the amount borrowed decreases throughout the term and, assuming that all repayments are made in full and on time, by the end of the mortgage term the debt will be fully repaid. This contrasts with an interest-only mortgage where the monthly repayments only cover the interest leaving the borrower with the original capital amount to repay at the end of the mortgage term.

One advantage of a repayment mortgage is that it removes the need to have in place a savings vehicle (such as an endowment policy or similar) with which the borrower can repay the original amount borrowed at the end of the mortgage term.  Another advantage of a repayment mortgage is that the borrower is also less likely to suffer from negative equity because the original mortgage debt will be reducing month on month.

As time moves on, the amount of equity in the property should increase, even if property prices remain static.  You should bear in mind that in the early years the bulk of the mortgage repayments may only cover the interest, so the capital balance may not reduce significantly during this time.

Ocean Money is part of the Ocean Finance and Mortgages Group.  If you enquire about a mortgage from Ocean, a qualified mortgage adviser from Ocean Mortgages will search the products available from their lender panel (which includes products from high street mortgage lenders) to ensure you end up with a suitable product.  You will receive help and advice throughout the mortgage process, and any offer made places you under no obligation to proceed.

If you already have a secured loan from Ocean Money your enquiry will be passed to one of our experienced underwriters; enquiries from other customers will be passed to Ocean Finance & Mortgages Limited

Existing Ocean Money Customers

If you already have a secured loan with Ocean Money and you are looking to raise additional finance then you may want to consider taking out a further advance.

A further advance will use further equity within your home as security against your loan.  You can use an Ocean Money loan for almost any purpose; you may want to consolidate some existing debts, purchase a new car or undertake some home improvements.   

Simply click on the link below to complete an enquiry form and one of our experienced underwriters will contact you to discuss this further.

As an existing customer you can also use our website to make repayments on your loan.  Click on the Make Repayments link and you will be able to make a repayment on your loan safely and securely. 

New Customers

Ocean Money is a specialist UK lender offering an extensive range of home owner loans and remortgages to suit your individual circumstances. We are members of the Council of Mortgage Lenders (CML) and Finance & Leasing Association (FLA) and we adhere to their lending codes.

If you are a new customer and you are interested in arranging either a remortgage or a secured loan then click on one of the links below and complete a no obligation enquiry form. All enquiries will be passed to the Ocean Finance and Mortgages group who will arrange for one of their experienced underwriters or mortgage advisers to contact you without obligation and discuss your enquiry further.

Ocean Mortgages from £10,000 to £750,000 5 to 25 Years  Enquire Online  No Obligation Free Quotes

Ocean Homeowner Loans from £5,000 to £100,000  3 to 25 Years  For Any Purpose Loans For people from all walks of life

Ocean Money is a specialist UK lender offering an extensive range of homeowner loans and remortgages to suit your individual circumstances.  Ocean Money is part of the Ocean Finance and Mortgages Limited Group and could help you raise money for virtually any purpose including home improvements, debt consolidation, car finance, holiday or a special occasion.

As a member of the Ocean Finance & Mortgages Limited Group – the UK’s leading finance broker, Ocean Money are registered members of both the Council of Mortgage Lenders and the Finance & Leasing Association and adheres to their Lending Code.  Ocean Finance & Mortgages Limited Group can help people arrange finance in various situations with our large selection of loan and mortgage plans.

Ocean Money provides loans & mortgages to meet your circumstances.  As a member of the Ocean Finance & Mortgages Limited Group, we can give you access to funds directly from Ocean Money whilst you can still get products from any other lender from the wider Ocean Group.