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Mortgage types |
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Mortgage typesFor example, repayment or interest. Or fixed, capped, tracker, discount or stepped rate etc.Mortgage types Similar MatchesForeign 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 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 Closed end mortgageClosed end mortgageMortgage against which no additional debt may be issued. Wraparound mortgageWraparound mortgageA loan to a buyer for the remaining balance on a seller's first mortgage and an additional amount requested by the seller. Payments on both loans are made to the lender who holds the wraparound loan. Adjustable rate mortgageAdjustable rate mortgageIn the US, a mortgage in which the interest rate is liable to change over the term of the loan and which is dependent on influences such as interest rates on US Treasury securities. Further SuggestionsMortgage Life InsuranceTracker mortgages Cap & collar mortgage commercial mortgage Wrap Around Mortgage Biweekly mortgage Mortgage advance Lehman Brothers Adjustable Rate Mortgage Index First mortgage Gnma (government National Mortgage Association) Options Mortgage debt Chattel mortgage Reverse annuity mortgages (RAM) Multifamily mortgage Package mortgage Private Mortgage Insurance Wraparound mortgage Mortgage deed Direct Reduction Mortgage Interest only mortgages Euro mortgage remortgage mortgage backed security Mortgage Bonds Pension mortgage |
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