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Capped rate mortgage |
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Capped rate mortgageAs with all variable rate mortgages, the rate follows the lender's SVR up and down. The difference with this type of mortgage is that the rate is guaranteed not to go above the level at which it is 'capped'. This type of mortgage is popular in times of steadily rising interest rates.Capped rate mortgageA mortgage which guarantees the interest rate charged will not rise above a certain level. But it may fall in line with variable rates.Similar MatchesOne hundred percent mortgageOne hundred percent mortgageA loan for the full cost of the home you are buying if are unable to raise a deposit to buy a property. You may have no existing equity, no savings, be using up all you do have on the other costs of the move, or perhaps be saving what you do have so that you can fix up your new home when you do buy it. Alternative mortgage instrumentsAlternative mortgage instrumentsVariations of mortgage mortgage such as mortgage and variable-rate mortgages, mortgage, mortgage and several seldom-used variations. Pension mortgagePension mortgageA type of personal pension plan which utilises the tax free lump sum entitlement from the pension fund at retirement age to repay a mortgage whilst the remainder is (and must be) used to provide a pension. Throughout the mortgage term the borrower pays interest to the lender such as a building society or bank whilst additionally making payments into the pension scheme. Tax relief is allowable on both the interest payments to the lender and on the contributions to the pension scheme which makes this type of plan attractive. MortgageeMortgageeThe party lending the money and receiving the mortgage. Some states treat the mortgagee as the "legal" owner, entitled to rents from the property. Other states treat the mortgagee as a secured creditor, the mortgagor being the owner. The latter is the more modern and accepted view. RemortgageRemortgageThe arranging of alternative finance for the purchase of a property which is already mortgaged. For example obtaining a mortgage with a lower interest rate to replace the existing mortgage. Further SuggestionsConsolidated mortgage bondMortgage Banker Government insured mortgage Freddie Mac (Federal Home Loan Mortgage Corporation) GEM (growing equity mortgage) repayment mortgage Pension mortgage Foreign currency mortgage flexible mortgage account biweekly mortgage loan Multifamily mortgage Mortgage application Residential mortgage Mortgage broker Council of Mortgage Lenders Remortgage Bi weekly mortgage loan Renegotiable Rate Mortgage Buy down mortgage Blanket Mortgage Blanket mortgage Mortgage deed Open end mortgage Mortgage pipeline Reverse annuity mortgages (RAM) |
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