With a repayment mortgage, you make monthly repayments for an agreed term and these payments consist of repaying the capital amount borrowed, together with the accrued interest.
This means that your mortgage balance reduces each month and is paid in full by the end of the term.
A popular choice, one advantage of a repayment mortgage is that you do not need a stock market linked investment, which is required for an interest only mortgage. Therefore, you reduce your risk and you are also less likely to suffer from negative equity because your mortgage balance decreases, month-on-month. However, it is important to be aware that when your mortgage starts, the repayments will mainly consist of interest. So, if you want to move or repay your mortgage, the overall balance will not have decreased by much.
If you decide on a repayment mortgage, you then need to consider if you want an interest rate which is fixed for a period, or if you would like a variable rate, where the interest rate can go up or down.