Bricks and mortgages
Article Abstract:
House purchasing borrowers should exercise their freedom to develop mortgages according to their individual needs. This freedom is borne out of developments in the financial market that allow self-determination of mortgages and repayment. The introduction of the interest-only policy, requiring borrowers to pay only interests at the prevailing rate and thus allowing them to make their own repayment systems, is one of these. Another is the repayment mortgage where the capital is repaid monthly together with the interest. It is usually designed with decreasing term assurance. On the other hand, the endowment mortgage combines life assurance protection and saving for repayment. Although similar to the endowment mortgage, the PEP mortgage also provides significant tax relief. Lastly, the pension mortgage is considered to be the best package despite its cost because, aside from repaying the mortgage, the purchasing of an annuity through the balance of the pension fund guarantees an income for life.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1993
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Sending the British mortgage overseas
Article Abstract:
The UK mortgage market is one of the most innovative and competitive in the world. Most European Community (EC) countries do not provide the range of products that the UK does. The single European market will increase the relocation of UK workers to continental Europe, which will stimulate competition and innovation in the supply of mortgages. However, the current status of UK mortgage lenders in EC countries is uncertain because of the diversity of national credit systems. Creating an integrated mortgage market will be difficult and successful mortgage lenders will have to be innovative to provide mortgage products in various countries.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1989
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