Key Fact Illustration (commonly abbreviated as KFI)
Please also see Loan Illustration.
A document showing the breakdown of the costs involved in applying for a financial product/s. It usually shows what are likely monthly payments going to be, penalties that could result from overpayments, underpayments or withdrawing from mortgage before the end of the fixed-rate term (if applicable). It should also indicate what the implications of the change in interest rates are or moving the houses as well as indication of fees payable to the financial mortgage advisor/broker by the lender, etc. The Key Fact Illustration document is prepared and provided to the prospective borrower by his financial advisor/broker before completion of the mortgage application.

Key Features Document (KFD)
A document that sets out the main features of the chosen protection policy, such as details of the proposed cover, information on what is involved in making a claim, contact details, etc.

Key Performance Indicator (KPI)
A set of indicators that help to ascertain whether the company is performing in accordance with its goals, financial and otherwise. KPI does not have to be the same for all companies.

KFI
Key Fact Illustration explains terms, conditions and features of the mortgage. KFI should show the overall cost of the mortgage, the amount of regular monthly payments, the initial interest rate, effects of a 1% increase in the rate if mortgage is on a variable rate, penalties for overpayments, any specific conditions or features and stipulate what happens if the borrower moves home.

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