The loan arrangements
Article Abstract:
There are now many different types of residential mortgage available in the UK through banks, building societies, insurance companies and specialist mortgage lenders. A mortgage is either repayment, which means that capital is paid off with interest over the mortgage term, or endowment, including an investment plan and life assurance. The lender's standard variable interest rate is determined in relation to the Bank of England's base rate. Many mortgage lenders offer incentives to attract first-time buyers or to borrowers who are re-mortgaging or changing lender.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1998
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Decisive deliberations
Article Abstract:
The laws concerning mortgage borrowers and lenders in the United Kingdom have recently been affected by decisions made in the law courts during 1996. The role of the solicitor or adviser in mortgage deals has been fully examined to ensure that a surety receives independent advice and signs a document to signify that the information has been understood. If a surety decides to continue with a transaction, despite being advised against such an action by a solicitor, the lender will then not be held responsible.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1997
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Defining conduct
Article Abstract:
Issues concerning the amendment from 1 October 1999 of rule 6(3) of the Solicitors' Practice Rules on when solicitors may can act for both borrower and lender are discussed. The amendment follows claims made by lenders.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 2000
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