Brunel Independent Mortgages

According to new research by Halifax, the UK’s leading mortgage lender to first time buyers, only a third of those new to the property ladder are aware that the acronym KFI stands for Key Facts Illustration.

A recent study by Halifax into first time buyer affordability shows that the house price to earnings ratio - a key affordability measure - has improved significantly over the past 18 months.

A third of first time buyers are unsure of KFI definition - A Key Facts Illustration (KFI) requires all lenders to set out the details of a mortgage product in the same format, so it’s easier for customers to compare mortgages. Despite this design, it seems the commonly used acronym KFI has left many first time buyers confused. Popular definitions proposed by first time buyers included Key Facts Instrument, Knowledge Facts Information and Knowledge For Improvement with 5%, 24% and 4% respectively

Source: Mortgage Introducer

At Brunel Independent Mortgages we promise:-

• We will answer all your questions honestly
• We will explain things clearly and in plain English
• We will not use industry Jargon
• We will give honest guidance and advance every step of the way
• We can help recommend other professionals such as solicitors and accountants
• We will ensure your continued understanding
• We will keep you informed every step of the way
• We have your best interests at heart

Please contact us on 01752 200002 with all your mortgage questions, go on don’t be afraid to ask!

With the Bank Base Rate at an all time low, there are some people who argue that there is only one direction it can now go! Whether this is true or not many people are now taking advantage of the low fixed rates available. Those with some good equity are eligible for the most competitive deals and many remortgage deals come with either free or refunded valuation and legal fees. Is now a good time to secure a fixed rate?