Serial redemption

 

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Serial redemption

The redemption of a serial bond.



Serial redemption

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Redemption penalties

Redemption penalties

Charges paid to the lender in compensation for lost interest if you redeem your mortgage ahead of schedule. During a discount period you will be severely penalised if you try to switch to another product or mortgage provider. Penalties can be stepped just like discounts, and can be particularly severe within the first year. This is to ensure that the costs that the lender endures in setting up the mortgage are always covered. Penalties can be a fixed sum of money, though are often proportion of the loan. With cashback mortgages, you often have to repay the amount of money you received as cashback.


Redemption penalty overhang

Redemption penalty overhang

This is where the redemption penalty continues beyond a fixed or capped rate period, effectively tying you in to the much higher variable rate for a period of time after the fixed or capped period. As a result you get stuck paying an uncompetitive rate that eats into the gains you may have made from having the fixed rate or capped ratein the first place.


Redemption cushion

Redemption cushion

The percentage by which the conversion value of a convertible security exceeds the redemption price (strike price).


Redemption

Redemption

The re-purchase of a security, such as a bond or preferred stock, by the issuing company at or before maturity.


Redemption

Redemption

This is the right of the mortgagor to recover mortgaged property on repayment of the loan and any interest due. This legally means that once you as the borrower have finished repaying the mortgage you took out, the property is yours and the lender has no further claim on it. If you pay of the mortgage ahead of schedule you may face a redemption penalty which compensates the lender for loss of interest.


Further Suggestions

Extended redemption penalty
Right of redemption
Redemption statement
Redemption date
redemption price
Redemption fee
Redemption
redemption date
Mandatory redemption schedule
Redemption
redemption fees
Overhanging redemption penalty
Redemption Period
Redemption charge
right of redemption
gross redemption yield
Preferred equity redemption stock (PERC)
Redemption price
redemption yield


 
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