“Every month we absolutely struggle to put away the cash to pay the school fees next term. School Fees Funding is a godsend for us. We are using our second most valuable asset – our house – to fund the education and shape the future of our most important assets. Our children.” Sarah, London.
Paying school fees for the duration of a child’s education is the second largest financial commitment, after house purchase, that any family will have to meet. Over recent years, school fees have regularly risen, on average by around 5% annually. With the costs of teaching and support staff, energy and technology charges continually rising, this is unlikely to change. With the threat of VAT at 20% being applied to school fees, as could happen with a change of government policy, the financial challenge for parents and grandparents wanting to access some of the best schools in the world will increase further.
GREENACRE FINANCIAL SERVICES LTD is working with ASIS to make available a new option for parents and grandparents to pay school and university fees. Greenacre FS is an appointed representative of JLM Mortgage Network Ltd, which is authorised and regulated by the Financial Conduct Authority.
FAMILY CASH-FLOW BENEFITS from SCHOOL FEES FUNDING
Instead of having to find £20,000+ from earned income in termly payments every year, parents can revise their mortgages – or in the case of grandparents, release Equity from their property assets – drawn down in one or two-year tranches. The per monthly cost of school fees is materially reduced, assisting families to better manage their cash flow. (See example below).
A one-off administration fee is chargeable and covers the lifetime of the mortgage. Standard affordability checks will apply on every application.
How School Fees Funding Works
Example: (These are indicative only and may alter with changes in interest rates, the amount of borrowing and the duration of the loan).
Annual School Fee: £20,000 per annum (£6,666/term)
School Payment Plan : £2,000 X 10 months (after income tax)
Mortgage Extension (on a property valued at £500,000 with £250,000 in equity, over 25 years).
- +£20,000 – 1 year £115 per month. Cash Flow Benefit £1,885/month
- +£40,000 – 2 years £230 per month. Cash Flow Benefit £1,770/month
- +£60,000 – 3 years £355 per month. Cash Flow Benefit £1,645/month
ENQUIRY FORM
(For Parents/Grandparents)
To learn more about School Fees Funding, please fill in this form and we will get back to you shortly.
ENQUIRY FORM
(For Schools)
To learn more how School Fees Funding might assist your families please complete this form and we will get back to you shortly.