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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. 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:

  1. You can choose from a variety of investments, some of which have tax advantages.
  2. Should you move or arrange a remortgage, your investment can usually be reallocated to the new mortgage.

DISADVANTAGES:

  1. Unlike a repayment mortgage, the amount of debt outstanding does not reduce over time
  2. 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.


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Company address:
Cyfri Cyfyngedig, 23 College Street, Lampeter, Ceredigion, SA48 7DY
T: 01570 423 823
F: 08709 223 296

Email: post@cyfri.co.uk

Registration address as company address
Registration number: 03925755
Registered in: Wales

For Investment Planning we make recommendations based upon the Whole of Market.

The levels, bases and reliefs of taxation are subject to change.

The guidance provided within this website is subject to the UK regulatory regime and is, therefore, primarily targeted at consumers based in the UK. This site does not confer any form of personalised financial advice, should you wish to receive specific financial advice please contact us.

Cyfri Cyfyngedig is an appointed representative of TenetConnect Services Ltd which is authorised and regulated by the Financial Services Authority. TenetConnect Services Ltd is entered on the FSA register under reference 150643.

Company phone: 01570 423 823 | post@cyfri.co.uk

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