![]() ![]() This will be read only and will be defaulted to ‘Sale of main residence’ as the ‘Repayment plan type’. Repayment Plan Details will be displayed within the ‘FMA’. Under Product selection, you can select either ‘Interest Only’ or ‘Part and Part’ under ‘Repayment basis’. You can do this by going back to the loan requirements screen and unselecting the ‘interest only (new borrowing)’ option to unlock the ‘would the applicant(s) like to port any of these mortgage accounts’ question. If you decide that you would like to port the existing mortgages and take the additional borrowing on a capital and interest basis instead, you'll need to proceed with interest only (new borrowing). Then on the ‘Loan Requirements’ screen, select ‘Interest Only (New Borrowing)’.įor new purchase applications, selecting ‘interest only (new borrowing)’ will remove the ability to answer 'yes' to porting existing accounts on the existing mortgages screen. On the ‘Create Case’ screen, select ‘Remortgage’ or 'New purchase' as the Application type. The declaration confirms that your client understands the requirement to sell their property to repay the outstanding balance at term expiry. To apply for an interest only new purchase or remortgage, your client will need to sign our ‘Sale of residence customer declaration form’ and attach it to the case in NFI Online before any mortgage offer can be issued.
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