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First charge |
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First 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.First charge Similar MatchesFinance ChargeFinance ChargeA total of all costs imposed directly or indirectly by the creditor and payable either directly or indirectly by the customer, as defined by the federal Truth-In-Lending laws. Prior chargesPrior chargesThe fixed liabilities of an investment trust including loan capital and usually preference shares. The subtraction of these charges from total assets gives the net asset value of the trust. Prior charges may be expressed either at par value or current market value. Chargeable gainChargeable gainThe amount chargeable to capital gains tax (CGT) from gains made on the disposal of an asset. In the case of stocks and shares, your gain is the difference between the proceeds of selling the shares and the amount you paid for them adjusted for indexationIn calculating the acquisition cost, you can include including broker commissions and stamp duty. Depending on when you bought the shares, the base cost can be increased through the indexation allowance - a good thing from a tax point of view because the higher your acquisition cost, the lower your chargeable gain.In calculating the disposal proceeds, you can deduct commissions and other charges incurred in the process of selling.Whether you have to pay Capital Gains Tax on the chargeable gain will depend on whether you have already used up your annual exemption (the amount of gains you can make in any one year without paying CGT), and on the level of your other gains or losses in the tax year.Taper relief, which reduces the rate of tax you pay on gains, may also be available, depending on how long you have held the shares at the time you sell them. Noncash chargeNoncash chargeA cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow. Discharge feeDischarge feeCovers the administration costs of transferring the property ownership documents from the mortgage lender to the borrower. Further SuggestionsUnpaid ground rent chargechargeable transfer Sales charge exit charge Deferred charge chargeable event Discharge charge card Finance charge chargeable event certificate Surcharge late charge Charge certificate management charges Redemption charge sales charge Late charge Carrying charge Late Charge Late charge Bankruptcy charge initial charge carrying charges Service charge Discharge of lien |
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