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Equity linked mortgage |
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Equity 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.Equity linked mortgage Similar MatchesEquitable MortgageEquitable Mortgage(1) A lien against real property (mortgage)which is enforceable in a court of equity, but does not legally constitute a mortgage. (2) A deed given as security for a debt will be held to be a mortgage rather than a transfer of title. Also called a constructive mortgage. Mortgage agreement in principleMortgage agreement in principleAn expression of a mortgage lender's willingness to enter into an agreement subject to other conditions being met, such as credit checks and a satisfactory property valuation. Mortgage application feeMortgage application feeA charge purely for applying for a mortgage. Paid to the lender upfront at the time of application it is usually between £100 and £300.This type of fee is becoming less common than an arrangement fee. As with arrangement fees, this type of mortgage fee is usually found with the special deals from lenders possibly to restrict the number of applicants by only attracting serious buyers. Some of the time this fee is refunded on completion of the mortgage. Mortgage REITMortgage REITAn REIT that invests in loans secured by real estate which derive income from REIT REIT and fees. Guaranteed Mortgage Certificates (GMC)Guaranteed Mortgage Certificates (GMC)First issued by Freddie Mac in 1975, G.M.C.s, like PCs, represent undivided interest in specified conventional whole loans and participations previously purchased by Freddie Mac. Further SuggestionsReverse mortgagesecond mortgage Mortgage Insurance mortgage indemnity Gnma (government National Mortgage Association) Options Residential mortgage Shared appreciation mortgage Assumable mortgage mortgage interest relief at source capped rate mortgage Delinquent mortgage Wrap Around Mortgage Federal National Mortgage Association endowment mortgage mortgage interest deduction Mortgage payment protection insurance (MPPI) Federal Home Loan Mortgage Corporation (FHLMC) interest only mortgage mortgage life insurance Self amortizing mortgage Tracker mortgages Mortgage Capped rate mortgage Government insured mortgage Mortgage advance |
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