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Breaking your Fixed Rate Mortgage could cost Thousands $$$

Breaking your Fixed Rate Mortgage could cost Thousands $$$

This is a discussion on Breaking your Fixed Rate Mortgage could cost Thousands $$$ within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; With interest rates rapidly falling, there is a new headache for homeowners with bmortgages/b and it comes in the form ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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11-17-2008, 03:03 AM

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Breaking your Fixed Rate Mortgage could cost Thousands $$$

With interest rates rapidly falling, there is a new headache for homeowners with bmortgages/b and it comes in the form of early repayment fees. Customers that have taken a longer-term fixed rate, and need to sell their property in the next b.../b

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