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Mortgage

 

MORTGAGES LOANS
GUIDE

 

 Mortgages UK

 Mortgages USA

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 Canada

Mortgage Loans

Lots of Mortgage Loans can be found online, if you wish to find mortgages loans then you have come to the right place. Simply select one of the countries from the mortgages loans list above to get an instant online quote. You can use this facility as many times as you like - absolutely free of charge.

 

 

 

 

 

 

 

 













 

  Mortgages Guide - rates, interest, companies, best, commercial
      Mortgages Loans

Features and Benefits offered by Certain Mortgages

Although mortgages are strictly defined as loans that are issued to help the applicant purchase a house or property, this is a very broad definition. Some mortgage lenders offer mortgages that feature certain levels of flexibility and freedom to the applicant. Of course a person’s entitlement to any mortgage will be subject o their credit history and current financial status, but these are often more important in the case of mortgages such as the following, which offer special privileges to the applicant.

• Flexible/Lifestyle mortgages

The purpose of this type of mortgage is to offer a level of flexibility to the borrower regarding repayment. If enough overpayment has been made at a time when the borrower can afford to do so, he or she may then be entitled to reduced or skipped subsequent payments. The main benefit of a flexible mortgage however, is that interest rates are evaluated on a short term basis i.e. monthly or daily, meaning that an overpayment will have immediate effect in reducing the mortgage balance. This is in contrast to traditional mortgage plans, where the interest calculations are carried out annually meaning that the benefit of overpayment may not be seen until as much as a year afterwards.

• Current mortgage Account

This type of mortgage offers the same advantages as a flexible mortgage, but is also advantageous in the fact that the interest payable on a mortgage balance is dependent on the current financial account of the borrower e.g. if the borrower has a mortgage balance of £60,000, and a current account balance of £3000, he or she will only owe interest on a mortgage balance of £57,000. Savings accounts, credit cards and personal loans may also be linked to this option.

• Cash back

This is used by lenders as an incentive; they offer a potential borrower a lump cash sum upon issue of the mortgage. This lump sum is usually dependent on the size of the mortgage, and varies from lender to lender. Borrowers will usually be “locked-in” for anywhere from 5 to 7 years where a substantial cash back amount has been paid.

 

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