Phone:01992 500800 | info@eversley.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 business we do not charge a fee. We will be paid by commission from the lender.
Mortgage & Equity Release
Mortgage Calc
Company address: Eversley Estate Planners Ltd - 19-21 Bull Plain, Hertford, SG14 1DX
T: 01992 500800
F: 01992 500444
Email: info@eversley.co.uk
Registration address as company address
Registration number: 05254380
Registered in: England
Eversley Estate Planners Ltd is authorised and regulated by The Financial Services Authority. Eversley Estate Planners Ltd is entered on the FSA register (www.fsa.gov.uk/register/) under reference 460399.
The Financial Services Authority do not regulate Will Writing, Loans, Credit Cards, or some forms of Mortgage, Tax Advice, Offshore Investments, Estate Planning.