Email: office@bloomfieldfinancial.co.uk

Call: 0191 406 6453

What is a wealth platform?

Written by John J Bloomfield

What is a wealth platform

You have probably heard the term 'wealth platform' in recent times the term is often used interchangeably with other terms such as 'fund supermarket' and 'wrap' but rarely is an explanation given to the reader of what a 'wealth platform' actually is. Perhaps this is understandable as they are indeed a relatively modern invention and there are many variations on a theme only really made possible by the existence of the internet and electronic trading systems.

Read more: What is a wealth platform?

What is an interest only mortgage?

Written by John J Bloomfield

InterestOnlyMortgage

What is an interest only mortgage?

If you’re currently arranging or rearranging a mortgage you might have come across the term ‘interest only’ and you might even be wondering why the payment quoted for ‘interest only’ is so much lower than for a repayment mortgage.

As I’m sure you know when a mortgage lender issues you a loan for which they charge you interest. When you take out an interest only mortgage the payments you make to the lender cover the interest alone and you are not repaying any of what you owe back. So if you borrowed £100,000 at the start of the mortgage you will still owe £100,000 at the end of the loan too.

Read more: What is an interest only mortgage?