Mortgage deals may not be available and lending is subject to individual circumstances. Mortgage lending criteria varies from lender to lender which is why we at Cheam Financial Planning give specific and tailored advice to each an every client. Please contact us for personal and professional advice based on your circumstances.
This information does not contain all of the detail you would need to choose a mortgage. Make sure you read your individual Key Facts Illustration (KFI) plus or the new European Standardised Information Sheet (ESIS) before you make a decision. A KFI plus or ESIS gives you tailored information, based on a particular mortgage and the level of lending you require, which is important to help you make your decision. This includes associated rates and fees, the overall cost of the mortgage and your monthly payments.
PLEASE NOTE THIS DOES NOT CONSTITUTE MORTGAGE ADVICE AND THE FIGURES SHOWN ARE PURELY A GUIDE. THE ACTUAL RATE AVAILABLE WILL DEPEND UPON YOUR CIRCUMSTANCES. PLEASE ASK FOR A KFI PLUS / ESIS.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST FORMS OF BUY TO LET MORTGAGE. YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
Should you select “Interest Only”, the monthly payment represents only the interest due to the lender, and does not include repayment of capital. Lenders require evidence that a customer will have in place a clear, repayment strategy and that the repayment strategy has the potential to repay the capital borrowed.
Repayment strategies may include deposits or investment product(s), pension(s), periodic repayment of capital from irregular sources of income (i.e. bonuses), the sale of another property or other land or other acceptable methods which meet lending criteria.
Where the repayment of capital is an investment, the investment runs alongside the mortgage but is separate from it; the cost should be taken into account when calculating the overall costs of the mortgage arrangement. This cost is not included in the following calculator which is only giving a rough guide and does not guarantee eligibility for a mortgage; it is also recommended that you compare with the figures as assumed via the Capital Repayment selection.