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Reverse annuity mortgage |
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Reverse annuity mortgageA mortgage that permits elderly people who own their home outright to receive an income for life in return for gradually relinquishing ownership in the property.Similar MatchesFlexible mortgageFlexible mortgageA mortgage that allows borrowers to make overpayments when they have spare cash, and reduce or miss payments altogether when times are tight. Often useful for self-employed people whose income varies from one month to the next. The most flexible form of mortgage is a Current Account Mortgage (CAM), which can potentially save you money by linking your current account and mortgage together. Pension mortgagePension mortgageA 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. Biweekly mortgageBiweekly mortgageA mortgage that requires payments every two weeks and helps repay the loan over a shorter term. Joint mortgageJoint mortgageA mortgage shared jointly between two people with the agreement that if one dies, the other automatically inherits their share. Chattel mortgageChattel mortgageA lien on personal property used as collateral for a loan. Further SuggestionsBlanket MortgageEuro mortgage Mortgage Company Interest only mortgages mortgage backed security flexible mortgage account Buy down mortgage capped rate mortgage Residential mortgage Package mortgage Mortgage reference fee Stepped fixed rate mortgage Reverse annuity mortgages (RAM) mortgagee Mortgage REIT first mortgage First Mortgage Mortgage pool Cooperative mortgages Mortgagee Mortgage Shared appreciation mortgage biweekly mortgage loan Graduated Payment Mortgage Bi weekly mortgage loan |
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