Here at Hello Mortgage your Mortgage Adviser will always present you with an ESIS stands for European Standardised Information Sheet (ESIS) also referred to as an Illustration. It's a document that provides information about the key features and costs of a mortgage in a standardised format. The ESIS is designed to help consumers compare different mortgage products and make an informed decision about which mortgage is right for them.
The ESIS is a mandatory document that must be provided by Mortgage Lenders/Mortgage Brokers to prospective borrowers. The document includes information on the interest rate, the amount of the loan, the term of the loan, the total amount repayable, the total cost of the loan, and any additional charges or fees associated with the loan.
The ESIS also includes information on the lender's policy on early repayment and the consequences of missed or late payments. This information can help consumers understand the potential risks and benefits of a mortgage loan and make an informed decision about which mortgage is right for them.
The ESIS is an important tool for consumers when comparing mortgage products, as it provides a standardised, easy-to-understand representation of the key features and costs of each loan. When recommending a mortgage we will work with you to compare the ESIS of different mortgage products that we think are suitable for you. Together we can make an informed decision about which mortgage is right for them and which lender is offering the best deal.
