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Exit charge |
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Exit chargeInstead of making an initial charge, some unit trust companies (particularly PEP managers) make a charge if units are cashed in, for example, within five years. In the US this is known as a back end load.Similar MatchesFirst chargeFirst chargeIf your property is collateral for more than one property and the borrower defaults on payments, the lender with a first charge has the option to repossess the home. Service chargeService chargeA component of some finance charges, such as the fee for triggering an overdraft checking account into use. Finance chargeFinance chargeThe total cost of credit a customer must pay on a consumer loan, including interest. Management chargesManagement chargesCharges made by the managers of, for example, a mutual fund or unit trust which cover investment management and administration costs. Charges usually take the form of a percentage fee based on the value of the fund. The charges for unit trusts tend to be higher than for investment trusts (typically 1.5% as against under 1%). Tracker funds, which are passively managed to follow an index, are much cheaper to run, and the costs passed on to investors are correspondingly lower. Exchange-traded funds, a new type of collective fund imported from the USA, also have lower charges than conventional unit trusts. Bankruptcy chargeBankruptcy chargeThis is an investigation carried out by the Land Charges Registry to check if a purchaser is or has ever been bankrupt. Most mortgage lenders will insist on this search being carried out and it usually carries a small charge. Further SuggestionsCarrying ChargesSurcharge initial charge Discharge fee Import surcharge Noncash charge Discharge of lien Carrying charge chargeable event certificate Charge certificate chargeable transfer Late charge charge card chargeable event Deferred charge sales charge carrying charges Finance Charge Discharge Contingent deferred sales charge (CDSC) Late Charge chargeable gain prior charges Late charge late charge |
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