If you choose not to pay the interest, it gets added to the loan each month, and future interest is then charged on the growing balance. Andy shows every client a personalised illustration so you can clearly see how your loan might grow over time. You can mitigate compound interest by making monthly or regular payments to the mortgage.
Andy Wilson Financial Services Ltd is registered in England No. 07547809. Registered Office: Landmark House, 1 Riseholme Road, Lincoln, LN1 3SN.
Andy Wilson Financial Services is a trading name of Andy Wilson Financial Services Ltd, an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority.
The guidance and /or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.