Mortgages

Your Mortgage is probably the largest expenditure you have and therefore the decisions you make regarding the style of mortgage you have, the rate you pay and the length of time you want to pay it for, will make a considerable difference to your overall financial plan. Repayments are expensive enough, without paying more than you need to. A financial advisor can scour the market, looking for products that meet your needs, and can advise you on the options available to you.

We are able to advise on all forms of mortgage:

• First Time Buyers,
• New Purchase
• Remortgage,
• Buy To Let,
• Let To Buy,
• Right to Buy,
• Adverse,
• 2^nd Charge:
• Commercial,
• Asset Finance:

We do not charge a fee for mortgage work as the provider will pay us a commission – we will discuss your requirements with you and tell you whether or not your circumstances fit the lenders criteria before we take the case on.

There is an exception to this with Commercial Lending where there is generally a fee payable for the work, prior to completion, although we will tell you first whether your circumstance fits the lenders criteria before we accept the case and whether there is a fee involved or not.

Mortgage Calculator – £100,000 / Interest rate 5% / Monthly Payment

30 Yrs                              25 Yrs                              20 Yrs                             15 Yrs                               10 Yrs
Repayment – £536        Repayment – £584        Repayment – £660        Repayment – £790        Repayment – £1,060
Interest Only – £417      Interest Only – £417     Interest Only – £417      Interest Only – £417      Interest Only – £417

Mortgage Calculator – £100,000 / Interest rate 6% / Monthly Payment

30 Yrs                              25 Yrs                              20 Yrs                              15 Yrs                              10 Yrs
Repayment – £600        Repayment – £644        Repayment – £716        Repayment – £843        Repayment – £1,110
Interest Only – £500      Interest Only – £500      Interest Only – £500     Interest Only – £500      Interest Only – £500

Endowment Shortfalls
If you are concerned about an endowment shortfall we will discuss this with you as part of your mortgage review, we will show you all the options available to you including:
Converting your mortgage to repayment:
Additional savings required to cover shortfall:

Comparison of
Estimated Endowment Maturity with Cost of ongoing premiums.
Cash surrender value used to reduce the mortgage and the mortgage interest saving against the estimated endowment profit and cost of ongoing premiums.
Comparison of Providers Cash Surrender Value against Trading endowment on the markets.

We will always discuss and show you, if suitable the costs of potentially reducing the mortgage term.
“Your home may be repossessed if you cannot keep up the repayments on any mortgage or other loan secured on it”

Your home may be repossessed if you do not keep up the repayments on your mortgage or any loan secured upon it. You can pay for our mortgage advice service by a combination of fee only or commission that we would receive from the provider. The level of any fee would depend on the circumstance of the case but we would estimate the fee to be 0.5% of the loan advanced.
Veracity financial planning is not responsible for, nor does the Financial Services Authority regulate advice given with regard to taxation matters regard to trusts; some aspects of tax advice; commercial mortgages or second charge secured lending.
“The value of your investment can fall as well as rise and you may get back less than you pay in.”