Definitions of terms commonly associated with mortgages and property ownership in the UK.Added to LoanThe costs borrowers incur when arranging a mortgage. Usually refers to expenses such as arrangement and administrative fees.Administration FeeA fee charged by some mortgage lenders to cover the costs of setting up the mortgage.Annual Percentage Rate (APR)The yearly rate charged on [...]
I recently applied for homeowners’ assistance with my mortgagor, and am currently in the foreclosure process. I’m not sure if I’m going to get the loan mod or not. What do banks look for when a homeowner applies for loan modification? I realize that lender practices vary; I’m just looking for general [...]
Repossession is a huge worry to any homeowner and it can and does happen and sometimes this is a result of either being made redundant or losing your income to accident and sickness. In cases such as this repossession might have been avoided if the homeowner had taken out mortgage protection insurance. A policy would [...]
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| By N2H | |||||||