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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 MatchesBreak even lease paymentBreak even lease paymentThe lease payment at which a party to a prospective lease is indifferent between entering and not entering into a lease arrangement. Payment defaultPayment defaultThis results when you are unable or simply unwilling to meet your mortgage repayments. If you default on your payments, the lender is ultimately entitled to sell your home in order to recover the loan. Different lenders will have different policies on how long they give you before they start the legal proceedings to recover the loan. Many will have a separate schedule of charges which you will incur before they start proceedings. Balance of payments argument for protectionBalance of payments argument for protectionA common reason for restricting imports, especially under fixed exchange rates, when a country is losing international reserves due to a trade deficit. It can be argued that this is a second best argument, since a devaluation could solve the problem without distorting the economy and therefore at smaller economic cost. Clearing house automated payment systemClearing house automated payment systemA computerised payment system for clearing cheques in the UK. Immediate payment annuityImmediate payment annuityAn annuity contract paid by a single payment and with a specified payment plan the starts immediately after the contract is purchased. Further SuggestionsInterest paymentsMonthly repayment Single payment bond Payments netting Standard payment calculation Balloon payment Balance of payments surplus Prepayment penalty Clearing House Automated Payments System (CHAPS) Periodic payment plan payment card Payment shock Documents against payment Prepayment penalty call payment Zero prepayment assumption European Payments Union Optional payment bond Graduated Payment Mortgage Skip payment privilege Prepayment speed Installment payments Transfer payment repayment mortgage Balance of payments |
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