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News about Mortgages:
Financial News
Market Report: Friends Provident proves popular on bid talk - The Independent
Friends Provident was strong last night amid talk of possible bid interest from Resolution, Clive Cowdery's investment vehicle that it is due to list on the London market next week. Citing reports of heavy institutional interest in the IPO, traders ...

Lenders pull plug on top mortgage deals - Times Online
One of Britain’s biggest lenders withdrew some of its most popular mortgage deals last night after the Bank of England cut its base rate. The move dashed the hopes of first-time buyers and hard-pressed homeowners who had hoped that the Chancellor ...

Mortgage lending down 95 per cent - Daily Telegraph
The figures led to widespread calls for an interest rate cut as early as next week to reinvigorate the housing market. According to the Bank of England, mortgage lending in August fell by 95 per cent compared to the previous month - a drop fuelled by ...

Recession watch - Guardian Unlimited
One of the leading names in Britain's pottery industry, Royal Worcester & Spode, has gone into administration. PricewaterhouseCoopers said it was seeking a buyer for the company which employs 388 people in the UK. Joint administrator and PwC partner ...

Home owners hit by mortgage rate rises - Daily Telegraph
HSBC, Woolwich - which is part of Barclays - and Yorkshire Building Society announced rises of up to 0.5 percentage points on some of their most competitive mortgages. Experts expect a "torrent" of lenders would follow suit because banks are nervous ...

Halifax in a fix - The Sun
THE collapse of investment banks will have huge effects on every one of us. This meltdown cannot be dismissed simply as a disaster for City whizkids. It will have a huge effect on pension funds. A collapse could wipe them out. If insurance giant AIG ...

Small investors furious at £37bn bank plan - Times Online
The army of small investors who own shares in Britain's banks were up in arms yesterday, accusing the Government of adopting bullying tactics and allowing political manouevering to get in the way of sound commerce. Roger Lawson, a director of the UK ...

Need to know: M&S down ... FirstGroup profits ... Virgin Media debts - Times Online
Interest rates : The Bank of England is forecast to cut interest rates by half a point to 4 per cent on Thursday, although some economists are forecasting a full one-point reduction. Manufacturing activity : The manufacturing purchasing mangers ...

Full text: Letter to Lord Stevenson - BBC UK News
1. Following your conversation with Peter Burt we (George Mathewson and Peter Burt), are writing to outline our thoughts in relation to the proposed takeover of HBOS PLC by Lloyds TSB Group PLC. We are sure that you recognise the need for the HBOS ...

HBOS chiefs accused of dereliction of duty and failing to explore ... - Scotsman
DIRECTORS of HBOS have been accused of failing in their duties to shareholders by not looking seriously at alternatives to the Lloyds TSB takeover bid. A cross-party group of MSPs yesterday launched a fresh attack on the deal and said they had ...

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Today's Mortgage Terms starting with A

  • Accrued Interest: Interest earned but has not been paid
  • Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
  • Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
  • Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
  • Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
  • Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
  • Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
  • Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
  • Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.

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