|
|
Back to back loan |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Back to back loanA situation where an investment organisation, such as an investment trust, deposits sterling with a UK bank which subsequently arranges with a foreign associate bank to lend the equivalent amount of foreign currency to the investment organisation. The purpose of this transaction is to hedge against currency fluctuations affecting the portfolio.Similar MatchesBack feeBack feeThe fee paid on the extension date if the buyer wishes to continue the option. Cashback mortgagesCashback mortgagesCashback mortgages provide you with a single lump sum of cash immediately on completion of the mortgage transaction. The amount of the lump sum is usually calculated as a percentage of the overall loan amount, though it can be a set figure. The percentage of the loan that is given as cashback can be as high as 5%, though amounts in the region of 1 to 3% are more common. Various different types of rate can come with cashback - capped, discounted, fixed and variable. There are also a lot of mortgages that award you three or four hundred pounds to go towards your solicitor's fees. Although this is a form of cashback, it would generally be classed as an incentive and not specifically as a cashback mortgage. Mortgage backed securityMortgage backed securityA security, backed by one or more mortgages. Backward compatibilityBackward compatibilityCompatibility with earlier versions of software. When referring to Web pages, it means the Web page has been coded so the appearance and functionality of the page will be acceptable when it is viewed on computers with older versions of popular browsers. ClawbackClawbackA term used in life assurance where under certain conditions, life assurance premium relief (LAPR) given under a life policy could be recovered (or clawed back) by the Inland Revenue. Although not extinct, the situation has much less relevance nowadays.Where a life company advances indemnity commission to an agent, the company does so on the understanding it will be entitled to recover some or all of the commission paid if the relevant policy is cancelled within a given period. Further SuggestionsLookback optionDrawback Back up Backwardation Kickback backtesting back office Sale and lease back Back office Death backed bonds Leaseback back taxes share buyback Backdating Piggybacking Asset backed security Put ratio backspread Back testing Drawback backspread Take back mortgage cashback Backward integration Discounted payback period rule Reachback |
|
|
|