Points to Ponder - (Solicitor's Funds)

SUMMARY OF CHARACTERISTICS OF PRIVATE MORTGAGES

• fixed rates
• interest only payments
• no need for tax returns or proof of income
• approval based on the value of the security
• no annual reviews during the term of the loan
• immediate approvals, low rates & fast settlements
• fixed interest rates for an agreed period up to 5 years
• automatic roll-over of funds if payments have been on time
• no administration, line or on-going fees throughout the term of the mortgage
• payments are usually quarterly in arrears therefore reducing 'effective' interest rates
• no need to attend interviews - approvals etc. can all be obtained by facsimile, e-mail and/or surface mail