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Cap & collar mortgage |
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Cap & collar mortgageThis is a mortgage that has both a top and bottom limit set for the interest rate. It is a very safe and risk free type of mortgage, as you are protected against intetrest rate rises above a certain point, but you are losing some of the potential gains if interest rates drop.Cap & collar mortgage Similar MatchesReverse mortgageReverse mortgageA mortgage that permits elderly people who own their home outright to receive an income with the home as collateral. The loan is repaid plus interest either at the end of the term or on the death of the borrower when the property would be sold. Mortgage typesMortgage typesFor example, repayment or interest. Or fixed, capped, tracker, discount or stepped rate etc. Mortgage life insuranceMortgage life insuranceA life insurance policy which pays off the outstanding balance of a mortgage in the event of the death of the insured. Cashback mortgagesCashback mortgagesCashback mortgages provide you with a single lump sum of cash immediately on completion of the mortgage transaction. The amount of the lump sum is usually calculated as a percentage of the overall loan amount, though it can be a set figure. The percentage of the loan that is given as cashback can be as high as 5%, though amounts in the region of 1 to 3% are more common. Various different types of rate can come with cashback - capped, discounted, fixed and variable. There are also a lot of mortgages that award you three or four hundred pounds to go towards your solicitor's fees. Although this is a form of cashback, it would generally be classed as an incentive and not specifically as a cashback mortgage. First MortgageFirst MortgageA mortgage on property that is superior in position to any other mortgage. Further SuggestionsDirect Reduction MortgageMortgage Insurance Federal Agricultural Mortgage Corporation (Farmer Mac) fixed rate mortgage Portable mortgage Stepped fixed rate mortgage Purchase money mortgage Private Mortgage Insurance First mortgage mortgage agreement in principle Mortgage lien capped rate mortgage Lehman Brothers Mortgage Backed Securities Index Assumable mortgage One hundred percent mortgage Private Mortgage Insurance (PMI) Stripped mortgage backed securities (SMBS) Mortgage Broker Stepped discount mortgage Mortgage confirmation Mortgage code arbitration scheme Capped rate mortgage Remortgage Junior mortgage Multifamily mortgage |
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