What is REPAYMENT MORTGAGE? What does REPAYMENT MORTGAGE mean? REPAYMENT MORTGAGE meaning. Meaning of mortgage
What is REPAYMENT MORTGAGE? What does REPAYMENT MORTGAGE mean? REPAYMENT MORTGAGE meaning video duration 1 Minute(s) 30 Second(s), published by The Audiopedia on 23 05 2017 - 09:00:03.
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Real estate agent and Realtor Matt Leighton talks about the First Commerce Financial is a Mortgage Broker that eliminates Junk Fees, meaning we save you money on your mortgage
https://bit.ly/2LpJJ6J for more This video is meant to help those who are learning English and for those having problem reading the dictionary, by providing with original easy to understand .
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What is REPAYMENT MORTGAGE? What does REPAYMENT MORTGAGE mean? REPAYMENT MORTGAGE meaning - REPAYMENT MORTGAGE definition - REPAYMENT MORTGAGE explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A repayment mortgage is a term generally used in the UK to describe a mortgage in which the monthly repayments consist of repaying the capital amount borrowed as well as the accrued interest, so that the amount borrowed decreases throughout the term and by the end of the loan term has been fully repaid. This contrasts with an interest-only mortgage (such as an endowment mortgage or some types of balloon payment mortgage) where monthly repayments are for interest, and the borrower must repay the full loan at term in a lump sum.
One advantage of a repayment mortgage is that it removes the risk of having an investment (as exists in an endowment mortgage), the performance of which is dependent on the stockmarket. The borrower is also less likely to suffer from negative equity because the mortgage balance will be reducing month on month.
As time moves on, the equity percentage in the property increases. However, in the early years the bulk of the mortgage repayments consist of the interest component, so not much of the capital is actually paid off for some time.
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This video is meant to help those who are learning English and for those having problem reading the dictionary, by providing with original easy to understand .
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