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15 Aug 2018

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ISA Mortgages Explained

ISA Mortgages

UK ISA mortgages are effectively an interest only mortgage with an additional investment plan in the form of an individual savings account (ISA). An ISA is a stock market based investment that benefits from tax free growth within the ISA funds.

 

Pros and Cons of ISA mortgages

Advantages

  • If the ISA performs well you may be able to pay off your mortgage early or enjoy a lump sum at the end of the repayment period, in addition to paying off your mortgage.
  • ISA's are potentially tax efficient, particularly for higher rate taxpayers.
  • An ISA can be selected to suit your circumstances and risk profile.

 

Disadvantages

  • Your debt remains constant throughout the mortgage period.
  • You have no guarantee that you will have sufficient funds to pay off the mortgage at the end of the repayment period, as the ISA could perform below expectations. (By monitoring your ISA's performance, you could make additional contributions during the repayment period if you felt the underlying fund was under performing.)

 

Discounted ISA Mortgage Protection Insurance

On ISA mortgage protection insurance cover, critical illness insurance cover and permanent health insurance cover Go Direct rebate a minimum 50% of the initial commission that the provider would have paid to us back into your policy reducing the cost of your monthly insurance premiums. Get an instant ISA mortgage life insurance protection quote today from Go Direct.

Do you want fee free ISA mortgage advice ?

For ISA mortgage or remortgage advise please feel free to contact us for independent mortgage advice from a professional ISA mortgage advisor.

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We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500

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.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500

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Isa Mortgages Explained by godirect.co.uk - Isa Mortgage Advice