Frequently Asked Questions on Overpayment of Mortgage

Overpayment of mortgage is a sensible idea to reduce your loan balance. You may pay off your largest debt in less time and shell out less money in interest expenses. However, there are several issues to take care of before deciding to make an overpayment. Here are some answers...

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Frequently Asked Questions on Fixed Rate Mortgages

 A borrower may avail of a fixed rate mortgage, which necessitates a payment of a fixed interest every month for a fixed period. The fluctuations of the base rate determined by the Bank of England or the standard variable rate proffered by the lender do not affect the monthly...

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A Viewpoint on Mortgage Payment Holiday

You can arrange with your lender a mortgage payment holiday that permits you to stop your monthly mortgage payments temporarily. The mortgage deal, your circumstances and the discretion of the lender determine your eligibility for the option and the length of the payment holiday. Nature of the Mortgage Package...

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Commonly Asked Questions on Commercial Mortgages

A commercial mortgage is one of the best methods used to finance the acquisition of land or buildings for business ventures. It affords an accommodating and very reasonable financial plan for the purchase. Here are some questions a borrower may have when thinking about obtaining a commercial mortgage. Q. ...

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Some Commonly Asked Questions On Mortgages

An application for a mortgage plan and repayments of the mortgage loan can involve several issues. A mortgage is a lengthy process, and lenders impose a variety of restrictions on the applicant. Here are some clarifications to questions that may arise in the mind of an uninitiated borrower. Q....

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Need To Clear Doubts aboutthe Best Mortgage

You might be planning to go for a loan by mortgaging your property to meet any planned or unplanned expenditure. Mortgage loans are covered by a number of regulations. Lenders also add their own conditions to protect them from defaulters. Some of these conditions might be of questionable nature....

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Clear Your Doubts Through Answers With FAQ

The first question to crop up if you are unfortunate enough to get a bad credit rating is how to get a loan to meet expenses of an emergency nature. A UK Debt Advisor will give you the required guidance regarding where you can apply and the formalities required...

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A Few Basic Questions on Mortgage

A mortgage is a loan made available by a lender to a homebuyer for a long period. The borrower repays the principal of the loan and the interests incurred on the principal, on a monthly basis. If the borrower fails to make the monthly repayment, the lender takes possession...

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Mortgage Industry FAQ – Part 1

Q1.   What is a mortgage? A.   A mortgage is a loan secured from a lending institution to buy real estate property. It is a legal claim on a property that obtains a promise from the borrower to pay off the debt. All mortgages have two common aspects, which are...

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Mortgage Industry FAQ – Part 2

  Q21.   What is meant by the term rate lock? A.   A rate lock ensures the borrower immunity from fluctuations in the financial market. A person taking a loan may opt to lock the interest rate for a certain period. In such a case, the rate of interest remains...

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Deciding on an Escrow Account after a Refinance

The monthly mortgage dues of a borrower consist of homeowner’s insurance, private mortgage insurance and property taxes apart from the mortgage principal and interest payments. Lenders require that you pay the insurance amounts and the property taxes in an escrow account held by a third party called escrow services....

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HUD Guidelines for Manufactured Homes

A set of directives prepared by the Department of Housing and Urban Development (HUD) may have served to enhance the quality of manufactured homes. Homebuyers are quite willing to apply for mortgages for this highly affordable quality of housing. Here are the key guiding principles put forward by the...

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