In contrast to common belief, mortgage terms are not limited to a minimum length of time that typically falls between 25 to 30 years. These terms represent the duration within which borrowers are required to repay their home loans. While these time frames are common, the range of mortgage options are far more diverse allowing borrowers to select terms that better meet their financial situation.

It’s important to consider individual financial goals and needs in an ever changing mortgage market, reinforcing the fact that such a large financial commitment needs a flexible rather than a ‘one-size-fits-all approach.

Shorter terms, such as 15 years, usually mean higher monthly payments. The benefit of which are substantial interest savings over the loan’s lifetime. On the other hand, longer terms provide borrowers with much smaller monthly instalments, but the downside is higher incurred interest, meaning that the total cost of borrowing is higher, and can be significantly so.

If you are a first time buyer, or simply looking for a new home/mortgage term, please fill out the form below and one of our expert mortgage advisors will be in touch to arrange an appointment.

Authorised and Regulated by the Financial Conduct Authority in the conduct of Investment Business. Your home may be repossessed if you do not keep up repayments on your mortgage

    Call your Local Office

    Aberdeen 01224 332400

    Aberdeen Property Office 01224 564636

    Banchory 01330 822931

    Ellon 01358 720777

    Inverurie 01467 629300

    Stonehaven 01569 762947