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Financial News
Concern grows over Cattles' future funding - yorkshirepost
FEARS are mounting over credit firm Cattles' ability to fund its lending in a recession. Analysts are concerned Cattles, which lends money to people who have been turned down by the traditional high street banks, may struggle to refinance its debt in ...

Back pages on night of frustration - This Is Anfield
It’s early December and we find ourselves at the top of the Premier League table, a point ahead of Chelsea and six ahead of Manchester United. Happy days. But last night’s goalless struggle at home to West Ham did not look like the sign of a ...

Game over? English football at bursting point - The Independent
Amid a frenzy of borrowing to pay the wages of international superstars– and build extravagant new stadiums – the most treasured clubs in the Premier League have been sold off to foreign investors. But as times get hard, English football could be ...

Banks could force sale of 'vulnerable' Liverpool - The Independent
Gillett has suggested that he is planning new sporting investment in India Liverpool, whose American owners Tom Hicks and George Gillett stand two months away from the expiry date of loans which could force them to sell up, are the most financially ...

Banks could force sale of 'financially vulnerable' Liverpool - Belfast Telegraph
Liverpool, whose American owners Tom Hicks and George Gillett stand two months away from the expiry date of loans which could force them to sell up, are the most financially vulnerable club in the land, the Premier League's most experienced football ...

Carlsberg calls time on Leeds brewery - Times Online
Carlsberg, the Danish brewing giant, today confirmed that it will close its 186-year old brewery in Leeds and said that it had cut its full-year operating profit forecasts by 2.5 per cent. The beer maker, which acquired Scottish & Newcastle with ...

Hammers and City takeovers went wrong, says deal-maker - Guardian Unlimited
Former Prime Minister Thaksin Shinawatra of Thailand sold Manchester City after 14 months at the helm. Photograph: David Longstreath/AP Keith Harris, the chairman of the merchant bank Seymour Pierce and a former Football League chairman, is the prime ...

Helensvale, Gold Coast, feels mortgage pain, Fitch Ratings says - News.com.au
HELENSVALE, on the Gold Coast, has been named as the most mortgage-stressed suburb in Australia by the global ratings agency Fitch Ratings. The Gold Coast and Sydney's Vaucluse have joined southwestern Sydney as the areas suffering the most from ...

I will struggle to sell Everton, admits Harris - Guardian Unlimited
Keith Harris, the merchant banker who has orchestrated the takeovers of five Premier League clubs, said yesterday that he is making "no progress at all" with finding a buyer for Everton, because the club are not an attractive enough financial ...

Over 4,000 British jobs face axe - Times Online
UK unemployment is set to climb even further after a range of British businesses today announced over 4,000 job cuts in under 12 hours. This afternoon, Virgin Media announced that it will axe 2,200 jobs between now and 2012 in a major restructuring ...

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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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