Berkley Vittoria offer independent financial services and specialise in assisting people with adverse, poor or bad credit histories. Berkley Vittoria can provide mortgages, remortgages and secured loans for debt consoldiation or for other purposes. If you wish to raise funds for a new property or to consolidate credit card or other debts and have CCJ's or some other form of bad credit history then Berkley Vittoria can more than likely help. Mortgages for problem properties and for right to buy properties can also be arranged. Berkeley Vittoria have access to a large range of mortgage lenders and finance providers thus ensuring that we can assist most circumstances.
Bad Credit Mortgage Broker
   Debt Consolidation Mortgages & Secured Loans

 

 

 

 
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Interest Only Mortgages

DO YOU HAVE AN EXISTING INTEREST ONLY MORTGAGE THAT IS COMING TO AN END AND YOUR EXISTING LENDER WILL NOT LET YOU EXTEND IT?

  Perhaps you would like an Interest Only Mortgage but are frustrated that lenders insist on you having an endowment or an ISA in place to repay the loan at the end of the term?

 Reduce your mortgage payments
  You may wish to Repay your loan by other means, such as Downsizing in the future or from monies you will Inherit.
 

Possibly you wish to raise Additional Funds to assist your children, for home improvements or just to enjoy life, but your existing lender will only allow you to do so on an expensive short term capital repayment basis?
  We at Berkley Vittoria IFS Ltd believe that we have Possible Solutions that you may wish to consider in the form of a long term interest only mortgage or a lifetime interest only mortgage.
  We have access to High Street Building Societies who will lend you the funds that you require on an Interest Only basis up to your 85th birthday (this might best suit applicants who plan to downsize in the future or who have other means of repaying the capital.
  We also have access to lenders who will advance you funds on an Interest Only Lifetime basis whereby you can either choose to Pay the interest monthly or “roll-up” interest payments onto your mortgage balance (with the amount owed increasing year on year).
An example of an interest only mortgage is as follows:- If you were to borrow for example £60,000 you would pay monthly interest payments of £118.76. The overall cost for comparison is 4.3% APR. The actual rate available with depend on your circumstances. ask for a Personalised Illustration.

 

Please call us on 0800 158 3220 to speak to one of our advisers for advice.

If in the process of re-mortgaging you consolidate other non secured debts into your mortgage, you should be aware that by taking these commitments over a longer period you will pay back more in interest over the term

If you are re-mortgaging away from your existing lender be careful and check whether or not you will incur any early repayment charges.

 

* You must be aware that with an Interest Only mortgage the capital borrowed will not be reducing.  You must ensure that you have some plan as to how you intend to pay the capital back at the end of the term.  Failure to do so would mean that the full balance of the mortgage would be still owing.

  Think carefully before securing other debts against your home. 
Your home or property may be repossessed if you do not keep up repayments on your mortgage.		  
 ©2010 Berkley Vittoria Independent Financial Services Ltd