Mortgages
Interest Only Mortgage
An interest only mortgage requires you to make monthly payments to
the mortgage lender in order to pay off the interest on the amount
borrowed. In addition to this, you will need to establish a
separate long-term investment plan so enough funds can be
accumulated to pay off the full amount at the end of the repayment
period.
The investment plan required to pay off the mortgage usually
comes in one of three forms:
i)
A low-cost endowment - also includes life cover but is rarely used nowadays and have been withdrawn by most finance companies
ii)
An ISA - money you pay in grows tax free
iii)
A Pension - Up to 25% of your fund value can be released as tax free cash
You can choose an ‘investment vehicle’ that is tax efficient
and if investment growth rates exceed those estimated at the
outset, you may be able to pay your mortgage off early or enjoy a
lump sum at the end of the repayment period. However, you have no
guarantee that you will have sufficient funds to pay off the
mortgage in full at the end of the repayment period as the
investment could perform below what was assumed at the start.
Nevertheless, monitoring the investment’s performance throughout
the term can rectify this.
We offer an
extremely competitive service, so for more information contact us
on:
Telephone: 0115
945 5199 Fax: 0115 982 6250
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR
MORTGAGE.
Written quotations are available on request. Loans subject to
status
Mortgages:
Interest Only
-
Pension
-
Repayment
-
ISA
-
Flexible
| Savings Calculator |
Pensions | Investments:
ISA/PEPS - SIPP/SSAS
Life Assurance:
Term Assurance |
Family Income Benefit |
Whole of Life Policy |
Critical Illness | Home |
About Us | Contact Us
David
Burnell Financial Services Ltd
1 Albert Road, West Bridgford, Nottingham, NG2 5GS
Tel: 0115 945 5199
Fax: 0115 982 6250
Email:
info@davidburnell.co.uk
David Burnell Financial Services Limited is an appointed representative of IN Partnership the trading name of the On-Line Partnership Limited which is authorised and regulated by the Financial Services Authority.
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