Daily Interest Mortgages
Daily interest mortgages are mortgages on which the interest on the outstanding balance is calculated daily.
Reducing interest payable
Every payment made reduces your daily interest mortgage balance from the very next day. Interest will then be calculated on this reduced balance for the rest of the month which means you pay less in the long run.
By overpaying it is possible to save even more money because your balance reduces the next day which means that not only is less interest charged, but the term of your mortgage could be reduced.
With an Equity Release plan you could raise up to 50% of the property’s value (subject to age and gender). Equity release plans could also be placed on non-residential homes if required.
At UK Property Finance we specialise in Mortgages for all circumstances and can find the right one for you no matter what your situation.