endowment mortgage, mortgage loan

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Investment backed mortgage With this method you pay interest only to the lender and separately take out a suitable investment to repay the capital at the end of the mortgage term

Frequently individuals will move from job to job requiring alterations to be made to their retirement planning which may adversely affect their mortgage planning

Bankrupt A Corporation, Firm or individual who, via a court proceeding, is relieved from paying all debts once assets have been surrendered to an appointed third party designated by the court

Discounted mortgage With a discounted mortgage, lenders offer a discount on the standard variable rate for a specified term

Popular in the late eighties and the nineties an endowment policy is a combination of two basic elements, namely a savings plan and a life assurance policy

In addition lenders frequently apply an Early Redemption Charge (ERC) for fixed rate mortgages

YOU CAN APPLY FOR A LOAN WITHOUT LEAVING THIS SITE! the facility to apply online for your personal loan

Borrowers will be required to remain on the lenders variable rate of interest for a pre-determined period of time

There are several factors that we will look at in detail and discuss with you the main items being: What limitations apply to the end of any product we are considering? Is there a lock in and if so for how long? What is the lenders variable rate – how does this compare? Is there any mortgage indemnity to pay? (Mortgage Indemnity is a premium paid to a lender in order to purchase an insurance policy against future loss

However, try to include as much as possible in the negotiations

Your mortgage lender will insist on a property survey before approving your mortgage

Reductions or increases in the rate will result in a direct increase or decrease in the monthly payment to the lender

Are there any guarantees not held with the title deeds? i

Generally anything between 1 and 25 year fixed rates are available

DISADVANTAGES If the proceeds of the repayment vehicle do not achieve the amount expected, then there will be a shortfall

Lenders charge interest on the amount you borrow, which is referred to as the Annual Percentage Rate (APR)

At this point you will need to pay your share of the property purchase to your solicitor who will exchange this and the money from the mortgage provider for the Disposition (or Title Deed)

There are some important facts to understand about the mortgage indemnity charge

The flexible mortgage concept was imported from Australia so occasionally you may hear them referred to as ‘Aussie style mortgages’

Please remember, a major consideration in any viewing or visits should be your safety- Always help ensure your own safety by taking a friend or partner

In return you usually agree to pay the variable rate charged by the bank or building society, for a specified term

Disadvantages: As mentioned above, any change in bank rates will be directly reflected in the monthly mortgage repayment so this type of mortgage provides no protection against any upward movement in interest rates (in contrast to fixed rate mortgages for example)

5 times a single salary and 2

Whilst practically the entire range of mortgage schemes are available to you with the exception of rates designed specifically for first time buyers, moving house may provide an excellent opportunity to consider what your future plans may be

Be prepared

Generally these polices will be accepted as having the potential for greater and faster growth than the with profits but there is also the risk that they may not produce such a steady long-term return

If it is going to happen then it is likely to occur between acceptance of your offer and exchange of contracts

Mortgage Indemnity Charge (sometimes referred to as a High Percentage Lending Fee) For high Loan to Value (LTV) mortgages i

Put the owner on the spot and see what reaction you get

Homebuyers survey This is the most popular form of survey and is intended for use on conventional types of property

Mortgage Endowment Policies

Normally a lender will ask you to establish a repayment vehicle for the loan at the outset although this is not always the case

See below for a quick guide to secured loans