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 may 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, and there is no guarantee that the investments chosen will grow sufficiently to repay your loan. Also, investment-linked interest-only mortgages can be slightly more expensive than repayment mortgages.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgages 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 £500. We can also arrange a combination of these options.
01604 497566
Suite S4
Moulton Park
Northamptonshire
NN3 6AQ
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| 5 Point Financial Planning Ltd is An Appointed Representative of Sesame Ltd., which is authorised and regulated by the Financial Services Authority Sesame Ltd is entered on the FSA register (www.fsa.gov.uk/register/) under reference 150427 |
| The FSA do not regulate National savings products and some forms of mortgage and tax planning. The advice and / or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. |