Package mortgage


 

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Package mortgage

A mortgage on a house and property in the house.



Package mortgage

Similar Matches

Blanket mortgage

Blanket mortgage

A mortgage that covers more than one property owned by the same borrower.


Mortgage

Mortgage

The name given to a loan used to buy a property.


Portable mortgage

Portable mortgage

The mortgage can be transferred from one property to another without incurring penalties.


Pension mortgage

Pension mortgage

A type of interest-only mortgage where your mortgage payments are combined with payments into your personal pension fund. This is designed to mature on your retirement, so the mortgage loan term must end between the ages of 50 and 75 unless the borrower is in an industry where the Inland Revenue permits earlier retirement. The pension also needs to provide you with an income during retirement, so only twenty five percent of the pension fund can be taken as a lump sum to pay of your mortgage.


Remortgage

Remortgage

The process of switching your mortgage loan from one lender to another without necessarily moving house.


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