Phone:0121 681 6833 | enquiries@birminghamifa.co.uk
Interest Only
How does it work?
Your monthly payments represent only the interest due to the lender, and do not include repayment of capital. Your total loan must be repaid at the end of the mortgage term. You therefore need to arrange additional investments which will generate sufficient capital to repay the loan.
ADVANTAGES:
- You can choose from a variety of investments, some of which have tax advantages.
- Should you move or arrange a remortgage, your investment can usually be reallocated to the new mortgage.
DISADVANTAGES:
- Unlike a repayment mortgage, the amount of debt outstanding does not reduce over time
- There is no guarantee that the investments chosen will grow sufficiently to repay your loan.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
For mortgage advice you can choose how we are paid. We can either accept commission from the lender or, you can choose to pay on a fee basis. Should you choose to pay a fee we will usually charge £395. We can also arrange a combination of these options.
Mortgage & Equity Release
Mortgage Calc
Company address: Evans and Associates Financial Planning -
PO Box 15593, Birmingham, West Midlands, B32 9FR
T: 0121 681 6833
M: 07976 510972
F: 0121 336 1836
Email: enquiries@birminghamifa.co.uk
Evans and Associates Financial Planning is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Services Authority and registered in England and Wales No.3406454
Trinity 3, Trinity Park, Solihull, Birmingham B37 7ES.
Evans and Associates Financial Planning is entered on the FSA register (www.fsa.gov.uk/register/) under reference 517147.
The FSA do not regulate National savings products, loans, Will writing and some forms of mortgage, offshore funds and inheritance tax planning.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.