AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Interest only mortgage calculator hsbc9/22/2023 ![]() Finding the right lender and securing the best deal for youĪre they still available for residential properties?.Using our free broker-matching service you can speak straight away to the right broker by simply making an enquiry online. They’ll be able to help with: Your first step should be to find a specialist mortgage broker with experience arranging interest-only mortgages as this will boost your chances of getting approved at the best terms available. Each lender has its own list of acceptable repayment vehicles, and this can range from the resale of the property to investments and savings A typical term is around 25 years, however, in most cases, the lender will need to agree with your repayment strategy as part of the application process. It’s vital you have an effective repayment vehicle (method of loan repayment) in place to repay the lender the original capital borrowed at the end of the term. This is because mortgage interest is charged on the total amount you owe, and as the amount you owe doesn’t reduce, the interest charged will not change either. Whilst this can be a great way to keep costs low throughout the duration of the mortgage, as monthly payments will be significantly lower than repaying capital and interest together, you will end up paying more overall. At the end of the mortgage term, you’ll still owe the full amount borrowed, which will need to be paid in full at this point. The Financial Conduct Authority does not regulate some forms of Buy to Let.As you might expect, an interest-only mortgage is a type of home loan whereby only the interest is repaid each month throughout the term. Trinity FG Ltd is an appointed representative of PRIMIS Mortgage Network, PRIMIS Mortgage Network is a trading style of Advance Mortgage Funding Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 305008) for mortgage and non-investment insurance advice. Trinity Financial is a trading name of Trinity FG Ltd. Registered in England and Wales at 2nd Floor, 13 Charles II Street, London, SW1Y 4QU. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone. Personal information will be treated as confidential by us and held in accordance with the Data Protection Act 2018. You voluntarily choose to provide personal details to us via this website. A typical fee is £495 plus we will receive commission from the lender. A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances (i.e. The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK. Your home may be repossessed if you do not keep up repayments on your mortgage. For more please read our guidelines below: The guidance and/or advice contained within this website is subject to the UK regulatory regime and primarily targeted at consumers based in the UK. Thanks Richard, my wife and I are much appreciative of your valuable time. Richard's approach has always been calm, informative, not pressured and, as evident by the results, unrelenting to opportunities and market status. It was not contact every day, and we did not need contact every day, what we found was that he was maintaining contact with other institutions (banks and private lenders) when appropriate and making immediate contact with us when an opportunity was available and further specific information required. ![]() He found options, and in that process would say "let me keep working this and I will see if I can get a better arrangement figured" and he did, despite being very busy. Richard took the time to explain options and then just kept working the challenge. Richard Forgione and the Trinity team took on a challenging task - where others were not successful - and arranged finance with a Main Street bank. I've not been asked to write a review, but the high level of service with results compels me to do so.
0 Comments
Read More
Leave a Reply. |