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Payment of balance |
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Payment of balanceThis usually takes place between a week and a month after exchanging contracts. It is possible to have a simultaneous exchange and completion if you are in a real hurry to get moving. When you complete the sale, your solicitor forwards the remaining balance of the purchase price to the seller's solicitor. You then have the right to take occupancy of the property and are free to move in.Payment of balance Similar MatchesMortgage payment protection insurance (MPPI)Mortgage payment protection insurance (MPPI)An MPPI policy pays your mortgage for you if you become unable to work for an extended period of time, as a result of redundancy, accident, sickness or disability. It should provide enough income to cover all your monthly mortgage expenses. If you have a repayment mortgage, this should be your capital and interest repayment and if you have an interest-only mortgage, the MPPI should cover your interest payment as well as your normal monthly contribution to the investment vehicle that will repay your loan. Balloon PaymentBalloon PaymentThe unpaid principal amount of a loan due on a specific date in the future. Usually the amount that must be paid in a lump sum at the end of the term. Repayment periodRepayment periodThe period over which the borrower must repay the lender. Prepayment penaltyPrepayment penaltyA fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. Balance of payments surplusBalance of payments surplusA number summarizing the state of a country's international transactions, usually equal to the balance on current account plus the balance on capital account. This equals zero* and is uninformative under the modern definition of the latter, but with official reserve transactions excluded, or omitting also other volatile short-term capital-account transactions, it indicates the stress on a regime of pegged exchange rates. Further SuggestionsMethod of paymentPayment Cap Payment gateway Facilitating payment Payments imbalance Balance of payments graduated payment mortgage repayment mortgage Balance of payments equilibrium European Payments Union Overpayment Repayment vehicle Break even payment rate periodic payment plan Periodic payment plan Balance of payments deficit Balance of payments adjustment mechanism Periodic payments Transfer payment Skip payment privilege Prepayment penalty Optional payment bond Stop payment Payment date prepayment fee |
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