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A look at the Key Facts Illustration document, and our available Mortgage assistance

The Key Facts Illustration document (KFI) is one of the regulatory documents you must be issued with when arranging a mortgage or remortgage.

On this page we take a closer look at the Key Facts Illustration (KFI) the purpose it serves, and the information it contains. We also offer details of how we can help with a Mortgage or Remortgage.

Key Facts Illustration (KFI) document explained

So, as we mentioned above, the Key Facts Illustration document (or KFI for short) is one of the regulatory documents you must be issued with when arranging a mortgage or remortgage.

All KFIs, whether issued by a Mortgage Lender or a Mortgage Intermediary, must be laid out in the format prescribed by the Financial Services Authority (FSA) regulations.

What is the purpose of the KFI?

The KFI will enable the borrower to receive detailed information about a mortgage product, and the various costs and fees that may be incurred in arranging it. This will then enable the customer to:

  • carefully consider the details before committing themselves, and to
  • compare different mortgage types and interest rates

What sort of information does the KFI contain?

The FSA insist that the KFI follows a pre-determined format in every case in order that the customer may be fully aware of the implications of the product that is being recommended. The features of the KFI include:

  • KFI explanation and confirmation that all firms selling mortgages are required to produce this document for you
  • The level of service being provided, i.e. an advised or non-advised sale
  • Information upon which the KFI is based, including:
  • Mortgage Description, including:
    • Lender
    • If there is a preferential interest rate (e.g. fixed), and how long this will last
    • The interest rate thereafter
    • The loan to valuation (LTV) applicable
  • The Overall Cost of the Mortgage, detailing:
    • Total amount to be repaid including the amount borrowed
    • The equivalent cost for each £1 borrowed
    • The APR for comparison purposes
  • Details of monthly repayments
  • Repayment Risks: the impact on your monthly repayments if interest rates were to rise by one percentage point (1.0%)
  • Fees payable, and whether they are added to the mortgage, including:
  • Insurances, and whether they are mandatory or not
  • Early Repayment Charges (ERCs)
  • Ability to make overpayments
  • Additional Features
  • Payments made by the lender to the intermediary
  • Details of further information about mortgages
  • Contact Details

Does Shire Direct provide me with a Key Facts Illustration document?

We certainly do!

And because we provide you with a recommendation on a suitable mortgage product, we will firstly ensure that we understand your circumstances, needs, requirements and aspirations. We'll then be in a position to provide you with a personalised illustration in the form of a KFI document.

Our qualified mortgage advisors are available to discuss the options open to you, and we're confident that you'll find our service to be friendly yet professional, helpful and unstuffy.

So, hopefully we've managed to answer any questions you had about the Key Facts Illustration document (KFI). Please don't hesitate to Contact Us if you would like to discuss your requirements, naturally without any obligation! Our mortgage advisors are available on Freephone 08000 282 281, seven days a week until 10pm, and we'll be delighted to provide you with an in-principle decision - whatever your circumstances!

Enquire Online now, or call us today 08000 282 281 - our freephone lines are open 8am-10pm everyday! We'd love to hear from you!

The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.

There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.

THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Adding existing debt to your mortgage will increase the repayment term and overall cost.

Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.

Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.