Replacing mortgage offer KFIs with ESIS

From Thursday 17 January 2019, we’ve replaced our new business mortgage offer Key Facts Illustration (KFI) with the European Standardised Information Sheet (ESIS).

We’ll be replacing our point of sale KFI with the ESIS at a later date.

Why have we changed to ESIS?

We’ve made changes to comply with the EU Mortgage Credit Directive which requires all mortgage lenders to issue their offers and illustrations in the standardised ESIS format by Thursday 21 March 2019.

What’s the difference?

The ESIS layout is very similar to the existing KFI and provides customers with the same information, with both documents explaining the mortgage product in a standard format to make it easy to compare different products and providers.

  • A notable change in the ESIS is the change from APR (Annual Percentage Rate) to APRC (Annual Percentage Rate of Charge) but the calculation is the same.
  • We’ve improved some of the wording to make it clearer.