Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

What is a...

Capital and Interest Mortgage

A Capital and Interest Mortgage, also known as a Repayment Mortgage, is a type of mortgage where monthly repayments are made up of both capital repayments and interest. These are the most popular type of mortgage in the industry. Capital refers to the amount borrowed, while Interest refers to the additional cost of borrowing the Capital.

How do I check my mortgage history?

Providing your mortgage lender has shared the account information with a Credit Reference Agency, you should find the account on your Credit Report. You’ll be able to see your lender’s name, the mortgage’s outstanding balance, repayment history, registered address and more.

You’ll also be able to see any previous mortgages you’ve held, if they are still be reported.

You can quickly and easily check your data held at all four Credit Reference Agencies by using checkmyfile. Our Multi Agency Credit Report collects your data from Equifax, Experian, TransUnion, and Crediva, giving you a comprehensive view of your credit on the same easy-to-use platform.

If you haven’t already, you can try checkmyfile free for 30 days, then for just £14.99 per month. Cancel online at any time.

How do Capital and Interest payments work?

At the beginning of the term most of the payment is used to cover the interest and only a small amount is paid towards reducing the mortgage. Over the course of the repayments, more and more of the monthly payment is comprised of paying back the capital borrowed.

As the debt gradually reduces, the element of capital increases and the interest element reduces, so although the monthly repayment stays the same (assuming interest rate remains unaltered) the debt starts to reduce more quickly as the term of the mortgage progresses.

For that reason it would not be unusual to still owe over 50% of the original debt on a 25 year term mortgage after the first 15 years.

As long as the monthly repayments are always made on time, the mortgage is guaranteed to be paid off at the end of the term.

How does a mortgage affect my Credit Report?

Provided you keep up with monthly payments, Capital and Interest Mortgages can help build your credit history because they show a stable pattern of making repayments over a sustained period of time.

It’s worth noting that any missed payments can also be recorded against you. Negative markers such as late payments, arrears, and defaults can drastically hurt your Credit Rating – especially when they occur on a mortgage account.

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