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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:
Fairfield Financial Services, 9A Regal Way, Faringdon, Oxon, SN7 7BX
T: 01367 243645
F: 01367 243645

Email: admin@fairfieldfinancialservices.co.uk

Fairfield Financial Services is the trading name of Fairfield Financial LLP which is Authorised and Regulated by the Financial Services Authority.

Fairfield Financial LLP is entered on the FSA register (www.fsa.gov.uk/register/) under reference 505523.

Telephone: 01367 243645 | admin@fairfieldfinancialservices.co.uk

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