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Senior mortgage bond |
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Senior mortgage bondA mortgage bond which receives priority on the assets of a company over other bonds in the event of liquidation.Senior mortgage bondA bond that, in the event of bankruptcy, will be redeemed before any other bonds are repaid.Senior mortgage bond Similar MatchesEquity linked mortgageEquity linked mortgageThe lender takes ownership of a stake in the equity of the property. This means that they lend you less than the full amount that is required to buy the home. Interest is only charged on the amount that they lend you and not on the full value of the property. When you sell the property, the lender receives payment in proportion to the amount of equity that they own, and therefore benefits from any increase in the price of the property. RemortgageRemortgageThe arranging of alternative finance for the purchase of a property which is already mortgaged. For example obtaining a mortgage with a lower interest rate to replace the existing mortgage. Mortgage BrokerMortgage BrokerOne who, for a fee, brings together a borrower and lender, and handles the necessary applications for the borrower to obtain a loan against real property by giving a mortgage or deed of trust as security. Also called a loan broker. 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. Adjustable Rate Mortgages (arms)Adjustable Rate Mortgages (arms)Mortgage loans under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to at the inception of the loan. Also called: Adjustable Rate Loans, Adjustable Mortgage Loans (AML'S), Flexible Rate Loans, Variable Rate Loans. Further SuggestionsFirst mortgageBlanket mortgage Mortgage reference fee Variable rate mortgages mortgage backed security Self amortizing mortgage Open End Mortgage Wholesale mortgage banking Guarantee mortgage Open end mortgage Balloon mortgage graduated payment mortgage Collateralized mortgage obligation (CMO) Mortgage term Mortgage Insurance Commercial Mortgage Backed Securities Direct Reduction Mortgage Self certification mortgage GEM (growing equity mortgage) Real Estate Mortgage Investment Conduit (REMIC) Federal National Mortgage Association Closed end mortgage Multifamily mortgage first mortgage Mortgage Company |
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