Sentence examples for switch to repayment from inspiring English sources

"Switch to repayment now," advises Hollingworth.

■ Switching to repayment This is ideal but the jump in payments can be frightening.

He suggests people can switch to a repayment mortgage, or part endowment and part repayment - although they should check with their lender that there are no penalties or costs for doing so.

They will be told they have to switch to a repayment loan, which means the monthly cost will rise.

Problems start when borrowers don't switch to capital repayment or don't think about repaying the debt".

As long as they switch to a repayment mortgage as soon as they can, it may be preferable to not getting finance at all.

If you are in this situation, you may be tempted to give up on the endowment and switch to a repayment mortgage.

"However, should the borrower not be able to switch to a repayment loan, standard servicing practice is for the lender to require principal payments or for the loan to remain fully interest-only.

■ Extend your mortgage term A longer timeframe to repay the mortgage may allow you to build up a repayment vehicle for the loan, or make switching to a repayment mortgage much more affordable.

If she continues with an interest-only mortgage, Nadia's repayments will double to around £400. "And if she switched to a repayment mortgage over a term of 23 years, they would rise to about £800," he adds.

Giving yourself longer to repay the mortgage could allow you to build up a better repayment vehicle for the loan (assuming it does not have a set maturity date), or make switching to a repayment mortgage much more affordable.