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I need a mortgage for £100,000 over 30 years, am trying to keep initial costs down with a view to increase the payments when circumstances are better, so at the minute am looking into the best deals but am totally bamboozled. help plz!!

With an interest only mortgage you only pay off the interest on the loan..so if you did nothing else after 30 years you would still owe £100,000. the mortgage company generally want to know how you intend to pay this off.the thing to say is that you will sell it..in a repayment mortgage you pay interest on the loan plus a proportion of the capital.so after 30 years you do not owe anything.obviously as you are paying interest and some of the capital the repayment mortgage is more expensive initially..it is only in the last few years that you actually start to repay large amounts of the capital sum.in the early years you may in fact owe more than the £100,000 you started out borrowing, when charges etc are taken into account.