ISA Mortgages
Monthly payments to the lender consist of interest only and the outstanding mortgage remains the same. You make payments to a separate investment with the aim of producing enough capital to repay the mortgage in full at the end of the term. There are a number of different investments that can be used. You can also use a combination of them.
Advantages
All income and capital growth is free of personal UK income and capital gains taxes.
Disadvantages
A maximum of £7200 can be invested in an ISA each tax year subject to annual review by the government.
Some lenders may not accept ISAs.
There is no monitoring of the fund to ensure it will repay the mortgage.
All our advisors at MLM are trained to the highest standard possible to ensure they are able to find the most suitable deal for your financial circumstances.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The information on this website is for the use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.
MLM Financial Ltd are appointed representatives of Openwork Limited who are authorised and regulated by the Financial Services Authority
Openwork Limited offers insurance and investment advice on products from a limited number of product providers and advice on mortgages representative of the whole market.
