At Hello Mortgage, your Mortgage Adviser will always provide you with an ESIS. This stands for European Standardised Information Sheet and is also known as an Illustration.
It is a key document that outlines the main features and costs of a mortgage in a clear, standardised format. The purpose of the ESIS is to help you compare different mortgage products and make an informed choice about which one best suits your needs.
What does the ESIS include?
The ESIS is a mandatory document that all mortgage lenders and brokers must give to prospective borrowers. It includes important details such as:
- The interest rate
- The amount and term of the loan
- The total cost and amount repayable
- Any additional charges or fees
It also explains the lender’s policies on early repayment and the consequences of missing or making late payments. This helps you understand both the benefits and potential risks of the mortgage.
How we use the ESIS to help you
When we recommend a mortgage, we will review the ESIS documents for the most suitable options and go through them with you. This allows us to compare products side by side and make a clear, informed decision together about which mortgage and lender are the best fit for you.