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Buy down mortgage |
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Buy down mortgageA home loan in which the lender receives a premium as an inducement to reduce the interest rate during the early years of the mortgage.Buy down mortgage Similar MatchesReverse annuity mortgageReverse annuity mortgageA mortgage that permits elderly people who own their home outright to receive an income for life in return for gradually relinquishing ownership in the property. Equity linked mortgageEquity linked mortgageThe lender takes ownership of a stake in the equity of the property. This means that they lend you less than the full amount that is required to buy the home. Interest is only charged on the amount that they lend you and not on the full value of the property. When you sell the property, the lender receives payment in proportion to the amount of equity that they own, and therefore benefits from any increase in the price of the property. Blanket mortgageBlanket mortgageA mortgage that covers more than one property owned by the same borrower. Mortgage reference feeMortgage reference feeIf you apply for a remortgage or a new mortgage, the new lender will want a mortgage reference from your existing lender. You will probably have to pay for this. Costs £20 - £50 Endowment mortgageEndowment mortgageAn interest-only mortgage ultimately repaid by the proceeds of an endowment assurance policy which is assigned to the lender providing the mortgage. The policyholder pays the lender's interest only, for the term of the mortgage. The sum assured, which is payable on maturity or prior death of the policyholder, is used to repay the mortgage. Policies are usually with profits (or low cost endowment), unit linked or unitised with profits and sometimes this provides some additional capital for the policyholder after the lender has been repaid. Further SuggestionsMortgage durationMortgage interest deduction Stepped fixed rate mortgage Shared appreciation mortgage Collateralized mortgage obligation (CMO) Mortgagee Mortgage payment protection insurance (MPPI) Assumable mortgage fixed rate mortgage Growing Equity Mortgage (GEM) General Mortgage Bond Mortgage pipeline Pension mortgage Mortgage pool Self build mortgage Purchase money mortgage Joint mortgage Mortgage REIT Mortgage application fee Portable mortgage flexible mortgage account Wrap Around Mortgage Alternative mortgage instruments Conventional mortgage Mortgage confirmation |
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