Gross redemption yield

 

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Gross redemption yield

See 'redemption yield'.



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Redemption penalties

Redemption penalties

Charges paid to the lender in compensation for lost interest if you redeem your mortgage ahead of schedule. During a discount period you will be severely penalised if you try to switch to another product or mortgage provider. Penalties can be stepped just like discounts, and can be particularly severe within the first year. This is to ensure that the costs that the lender endures in setting up the mortgage are always covered. Penalties can be a fixed sum of money, though are often proportion of the loan. With cashback mortgages, you often have to repay the amount of money you received as cashback.


Redemption cushion

Redemption cushion

The percentage by which the conversion value of a convertible security exceeds the redemption price (strike price).


Overhanging redemption penalty

Overhanging redemption penalty

An early redemption charge that lasts beyond the benefit period is referred to as an extended or overhanging redemption penalty. These should be avoided where possible. 


Redemption statement

Redemption statement

The outstanding amount to be repaid on an existing mortgage. Redundancy insurance Another form of income protection, but one that does not cover any form of sickness, injury or disability. The purpose of this type of policy is to replace income lost through a short to medium term period of redundancy. It provides you with a monthly tax-free income to cover a portion of your lost earnings. It is often sold in conjunction with the accident, sickness and disability element of income protection policies, in which case it is known as Accident, Sickness and Unemployment (ASU).


Serial redemption

Serial redemption

The redemption of a serial bond.


Further Suggestions

Preferred equity redemption stock (PERC)
Redemption
Redemption charge
Extended redemption penalty
Redemption price
Redemption date
right of redemption
redemption fees
Redemption penalty overhang
Right of redemption
Redemption
Redemption fee
redemption date
redemption price
Redemption
Redemption Period
redemption yield
redemption
Mandatory redemption schedule


 
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