Interest Only Fact Sheet Direct

My advice does not include the credibility of the method you have chosen to repay your mortgage for the interest only element.

I recommend that you discuss your strategy for how you intend to repay the capital at the end of the term with a suitably qualified independent financial adviser (IFA). If you have not already consulted an IFA you will be able to find one at www.unbiased.co.uk. The Loughborough Building Society is not authorised to give advice in respect of repayment strategies you have, relating to your interest only mortgage. The Society has no responsibility for the repayment strategy you intend to use to repay the capital borrowed at the end of the mortgage term.

We will provide an interest only declaration form which you will be required to sign in relation to this.

It’s your responsibility to monitor the performance of your investments/ pension lump sum/ or property value to ensure you’ve sufficient funds to repay the amount borrowed at the end of the mortgage term. As part of the application process, we will require evidence that you have a means to repay the mortgage at the end of the term.

Can you confirm you have understood it is your responsibility to monitor your repayment vehicle?