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Open end mortgage |
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Open End MortgageA mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions, usually as to the assets of the mortgage.Open end mortgageMortgage against which additional debts may be issued. Related: Closed-end mortgage.Open end mortgage Similar MatchesMortgage ServicingMortgage ServicingControlling the necessary duties of a mortgagee, such as collecting payments, releasing the lien upon payment in full, foreclosing if in default, and making sure the taxes are paid, insurance is in force, etc. Servicing may be done by the lender or a company acting for the lender, for a servicing fee. 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. Mortgage lienMortgage lienThe unpaid balance on the mortgage 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. Mortgage incentivesMortgage incentivesThe lender may offer a discount or fee-free period on buildings insurance, accident and sickness insurance, redundancy insurance, or payment protection insurance. This is often done to encourage you to take up the policy, which you are then fairly likely to keep in the longer term. Other common incentives include a free valuation and money towards solicitor's fees. Further SuggestionsCap & collar mortgagePortable mortgage Mortgage Broker fixed rate mortgage Wraparound mortgage Mortgage deed mortgagee Chattel Mortgage first mortgage All inclusive Trust Deed (wrap around mortgage) Residential mortgage Growing Equity Mortgage (GEM) Repayment mortgage Mortgage types Self build mortgage Reverse annuity mortgages (RAM) Buy down mortgage Take back mortgage Wrap Around Mortgage endowment mortgage base rate tracker mortgage Low start mortgage Mortgage arrears Flexible mortgage mortgage broker |
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