Additional security fee

 

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Additional security fee

An up-front, one-off fee paid to the lender to protect against the borrower defaulting on the loan. This is usually charged on mortgages of more than 75% of the property value. Also known as Indemnity Guarantee Premium and Mortgage Indemnity Premium.



Additional security fee

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Statement of Additional Information (SAI)

Statement of Additional Information (SAI)

A document provided as a supplement to a mutual fund prospectus. It provides more detailed information about fund policies, operations, and risks. Also known as a Part B prospectus.


Additional principal payment

Additional principal payment

Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan.


Additional hedge

Additional hedge

A protection against borrower fallout risk in the mortgage pipeline.


Additional rate tax

Additional rate tax

A term which applies to trusts without an interest in possession (for example a discretionary trust) and defines the additional rate of tax on income.


Free standing additional voluntary contributions

Free standing additional voluntary contributions

An employee's pension scheme which is additional to but independent from his occupational pension scheme. The maximum amount which may currently be contributed to an employee's pension fund is 15% of salary (which includes benefits in kind) including his company scheme. For example if an employee is contributing 10% of his salary to a company scheme, a further 5% can be paid by that employee in each tax year into FSAVCs or AVCs. However, the employer and employee contributions when combined must not produce benefits in excess of Inland Revenue maximums.


Further Suggestions

additional voluntary contributions
additional personal allowance
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