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Interest Only
How does it work?
Your monthly payments represent only the interest due to the lender, and do not include repayment of capital.
Lenders require evidence that a customer will have in place a clear, credible repayment strategy and that the repayment strategy has the potential to repay the capital borrowed.
Repayment strategies may include deposits or investment product(s), pension(s), periodic repayment of capital from irregular sources of income (i.e. bonuses), the sale of another property or other land or other acceptable methods which meet lending criteria.
Where the repayment of capital is an investment, the investment runs alongside the mortgage but is separate from it, the cost should be taken into account when calculating the overall costs of the mortgage arrangement.
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.
Normally cheaper than repayment mortgages.
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.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
TAX TREATMENT IS BASED ON INDIVIDUAL CIRCUMSTANCES AND MAY BE SUBJECT TO CHANGE IN THE FUTURE.
TAX PLANNING ADVICE IS NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
How does it work?
Your monthly payments represent only the interest due to the lender, and do not include repayment of capital.
Lenders require evidence that a customer will have in place a clear, credible repayment strategy and that the repayment strategy has the potential to repay the capital borrowed.
Repayment strategies may include deposits or investment product(s), pension(s), periodic repayment of capital from irregular sources of income (i.e. bonuses), the sale of another property or other land or other acceptable methods which meet lending criteria.
Where the repayment of capital is an investment, the investment runs alongside the mortgage but is separate from it, the cost should be taken into account when calculating the overall costs of the mortgage arrangement.
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.
Normally cheaper than repayment mortgages.
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.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
TAX TREATMENT IS BASED ON INDIVIDUAL CIRCUMSTANCES AND MAY BE SUBJECT TO CHANGE IN THE FUTURE.
TAX PLANNING ADVICE IS NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
Wealth, just like your health, must be carefully preserved. Your assets need to be protected against the potential threats of erosion by taxation, the effects of inflation and investment risks.
Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser
When someone talks about savings and saving money, it could be referring to a piggy bank or a high interest deposit account. Savings are effectively cash or cash instruments, such as deposit accounts, term bonds etc.
When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance
The main purpose of Life Assurance is to provide money for those people who may depend on you financially, in the event that something should happen to you.
Health Insurance is probably one of the most important types of insurance you can own. Without it, an illness or accident can have serious long-term financial implications for you and your family.
Professional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions