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Date of paymentDate dividend checks are mailed.Date of payment Similar MatchesBalloon paymentBalloon paymentThe final lump sum payment due at the end of a balloon mortgage. Balloon PaymentBalloon PaymentThe unpaid principal amount of a loan due on a specific date in the future. Usually the amount that must be paid in a lump sum at the end of the term. Deferred payment annuityDeferred payment annuityAn annuity that stipulates payments be made to the annuitant at a later date, such as when the annuitant reaches a certain age. Repayment mortgageRepayment mortgageEach month you will make a repayment to the mortgage lender. Part of this payment will go towards reducing the total amount of capital you owe and part of it will be an interest charge on the remaining balance of the mortgage. Unless interest rates change or your introductory offer period ends, you pay the same amount each month. When one of these things does happen, repayments are altered so that the loan is still repaid at the end of the specified term. Repayment mortgageRepayment mortgageA mortgage where throughout the term, regular payments (usually monthly) are made to partly repay interest on the capital and to partly repay the capital itself (the amount of the loan).Initially the largest proportion of the repayments will be used to pay interest since the capital amount outstanding is at its highest value. Therefore over the initial years the capital will not reduce very much. However as the years proceed more and more of the monthly repayments will be applied to reducing the capital until towards the end of the term the large proportion will be paying off capital and a small proportion paying interest.In the event that interest rates rise then often the monthly repayments will rise accordingly. Alternatively, to keep the same monthly repayments the term will need to be extended. If interest rates fall then the reverse applies. It is usually a requirement of the lender (that is, a building society or bank) providing the mortgage that the borrower takes out life assurance so that repayment is made in the event of his/her death during the term. Further Suggestionsclearing house interbank payment systemAnnualised payment scheme Repayment term Payment default Repayment period European Payments Union Transfer payment Payment Cap Micropayment Payments pattern Balance of payments equilibrium prepayment fee Balance of payments Late payment Periodic payment plan PIK (Payment in kind) securities payment card Repayment plan Payment protection insurance Payment of balance Progress payments Additional principal payment Clearing House Automated Payments System (CHAPS) graduated payment mortgage balance of payments |
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