This obvious advantage with this type of mortgage is the guarantee that your loan
is paid off in full at the end of the agreed period of time (assuming that you have
not missed any monthly payments).
The monthly payments are calculated to include interest of the loan itself and repayment
of the capital sum. You can therefore see the amount of your debt reducing each
month and there will be no hidden “surprises” at the end of the term.
It must be noted that YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS
ON YOUR MORTGAGE.