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Euro mortgage |
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Euro mortgageA mortgage taken out by those paid in Euros to avoid the need to exchange currency.Euro mortgage Similar MatchesSenior mortgage bondSenior mortgage bondA bond that, in the event of bankruptcy, will be redeemed before any other bonds are repaid. Mortgage interest relief at sourceMortgage interest relief at sourceThe mechanism by which income tax relief was extended to a borrower on the interest paid on the first £30,000 of a mortgage on their main home.The system was known as MIRAS, and was operated by most building societies, banks and insurance companies, who would reduce the amount of interest eligible borrowers had to pay every month, and then claim the tax relief back from the Inland Revenue.The amount of relief available on MIRAS was gradually scaled down to 10% and ended altogether from 6th April 2000. Capped rate mortgageCapped 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. Deferred interest mortgageDeferred interest mortgageInterest is not paid during the deferral period. When the period is over, the accumulated interest is added to the original loan. Some lenders add this interest to the total of your loan to give a new loan figure and new interest payments. Others calculate your interest payments on the original loan as normal and then spread the repayment of the deferred interest over a set period of time. The latter method is better for you, as adding the deferred interest to the loan means you end up paying interest on the deferred interest! Stepped discount mortgageStepped discount mortgageWhere the discount is, for example, fixed at one level for one year and then a slightly lesser level for two further years. Remember it is the percentage discount that is stepped and not the monetary amount, so your repayment can still vary. Further SuggestionsPrivate Mortgage Insurance (PMI)Variable rate mortgages Mortgage code arbitration scheme second mortgage Non status mortgage Portable mortgage Private Mortgage Insurance Mortgage broker Standing mortgage Direct Reduction Mortgage Mortgage debt Mortgage Insurance Interest only mortgages Strip mortgage participation certificate (strip PC) Wholesale mortgage banking Blanket mortgage Self build mortgage Junior mortgage Conventional mortgage Fixed term reverse mortgage mortgage agreement in principle Closed end mortgage mortgage backed security discounted rate mortgage interest only mortgage |
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