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Mortgage duration |
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Mortgage durationA modification of standard duration to account for the impact on duration of MBSs of changes in prepayment speed resulting from changes in interest rates. Two factors are employed: one that reflects the impact of changes in prepayment speed or price.Mortgage duration Similar MatchesStepped fixed rate mortgageStepped fixed rate mortgageWhere the interest is, for example, fixed at one level for one year and then a slightly higher level for two further years. This is not as common as finding stepped discounted mortgages. Mortgage reference feeMortgage reference feeIf you apply for a remortgage or a new mortgage, the new lender will want a mortgage reference from your existing lender. You will probably have to pay for this. Costs £20 - £50 Endowment mortgageEndowment mortgageAn interest-only mortgage ultimately repaid by the proceeds of an endowment assurance policy which is assigned to the lender providing the mortgage. The policyholder pays the lender's interest only, for the term of the mortgage. The sum assured, which is payable on maturity or prior death of the policyholder, is used to repay the mortgage. Policies are usually with profits (or low cost endowment), unit linked or unitised with profits and sometimes this provides some additional capital for the policyholder after the lender has been repaid. First MortgageFirst MortgageA mortgage on property that is superior in position to any other mortgage. 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. Further Suggestionsbase rate tracker mortgageOpen end mortgage Delinquent mortgage Flexible mortgage Federal National Mortgage Association Foreign currency mortgage Mortgage cash surplus Mortgage interest deduction Mortgage Bonds First mortgage Mortgage Broker Mortgage Life Insurance Growing Equity Mortgage (GEM) Euro mortgage MIG Mortgage Indemnity Guarantee Mortgage Company Full status mortgage Mortgage Banker mortgage protection Second mortgage lending Joint mortgage Balloon mortgage Real Estate Mortgage Investment Conduit (REMIC) Insured Mortgage shared appreciation mortgage |
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