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Base rate tracker mortgage |
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Base rate tracker mortgageA mortgage in which the rate of interest paid by the borrower follows movements in the base rate.Similar MatchesFederal National Mortgage AssociationFederal National Mortgage Association(Fannie Mae): A tax paying corporation created by Congress to support the secondary mortgage market. It purchases and sells residential mortgages insured by FHA or guaranteed by VA as conventional home mortgages. Shared Appreciation Mortgage (SAM)Shared Appreciation Mortgage (SAM)A mortgage with a low rate of interest, offset by giving the lender some portion of the appreciation in the value of the underlying property. Interest only mortgagesInterest only mortgagesWith an interest-only mortgage, your monthly repayments to the lender consist only of interest on the total loan amount. The interest payments will vary depending on the interest rate being charged by the lender at the time. This type of mortgage involves paying the lowest possible monthly outlay to the lender, as no capital is included in the repayment. Instead of repaying the capital, regular payments are put aside in a suitable investment or savings plan. This grows cumulatively and assumptions are made regarding its growth in order to calculate a monthly repayment figure. If you are fortunate, the investment will accumulate at a higher rate than is required to pay back your loan on time, resulting in a cash surplus at the end of the term. This is not always the case however, and sometimes there can be a cash deficit at the end of the term. Mortgage arrearsMortgage arrearsThe amount of back pay you owe your mortgage lender for failing to meet your mortgage requirements. Stepped fixed rate mortgageStepped fixed rate mortgageWhere the interest is, for example, fixed at one level for one year and then a slightly higher level for two further years. This is not as common as finding stepped discounted mortgages. Further Suggestionsmortgage brokerNon status mortgage Guaranteed Mortgage Certificates (GMC) Mortgage reference fee Shared appreciation mortgage H Hard Money Mortgage Flexible mortgage General Mortgage Bond Buy down mortgage mortgage interest deduction Euro mortgage Reverse annuity mortgages (RAM) Collateralized mortgage obligation (CMO) Senior mortgage bond capped rate mortgage Standing mortgage Mortgage Backed Securities Clearing Corporation (MBSCC) remortgage Mortgage cash surplus mortgage agreement in principle Lifetime reverse mortgage Mortgage application fee Mortgage REIT Self amortizing mortgage Wrap Around Mortgage |
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