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Index tracker mortgage |
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Index tracker mortgageThe interest rate tracks an index such as the base rate or LIBOR and often has a set percentage added to it.Index tracker mortgage Similar MatchesMIG Mortgage Indemnity GuaranteeMIG Mortgage Indemnity GuaranteeThis is insurance for the lender paid by the consumer in a one-off payment, on 'high' LTV mortgages. This protects the lender in the event that you default on the loan and the sale of the property is not enough to repay the amount that they are owed. Some lenders will insist you pay this if your mortgage is for as low as 75% of the value of the property, but 90% is a more common level. Some lenders will not insist on it regardless of the loan value. You can often add this fee to the loan, but be aware that you will then be paying interest on it until the loan is repaid in full. Direct Reduction MortgageDirect Reduction MortgageAn amortized mortgage. One on which principal and interest payments are paid at the same time (usually monthly) with interest being computed on the remaining balance. General Mortgage BondGeneral Mortgage BondIn the US, this refers to a bond that is secured by a blanket mortgage on the issuing company's property, though it may be outranked by one or more other mortgages. 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. Foreign currency mortgageForeign currency mortgageIt is possible to get a mortgage for your home in the UK in a mortgage denominated in a foreign currency. It sometimes gives you the opportunity to borrow money at a lower rate of interest than is possible in the UK. You do this by choosing a currency whose country has lower interest rates than we have here. Lower interest rates should mean lower repayments of both capital and interest or a shorter mortgage term. The mortgage does not have to be in any single currency. There are lenders who will allow you to spread your mortgage across a range of different currencies. This could be seen as spreading the risk Further Suggestionsdiscounted rate mortgageH Hard Money Mortgage Open End Mortgage Mortgage confirmation Variable rate mortgages Self amortizing mortgage Balloon mortgage First mortgage mortgage backed security Strip mortgage participation certificate (strip PC) Pension mortgage Mortgage Life Insurance Mortgage incentives Stripped mortgage backed securities (SMBS) Package mortgage Portable mortgage Mortgage Banker Private Mortgage Insurance Tracker mortgages Mortgage code arbitration scheme Mortgage term Second Mortgage Fixed term reverse mortgage Mortgage lien Government insured mortgage |
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