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A mortgage is a loan that is secured by real property (land, buildings).
3
votes
What is the Standard Variable Rate (SVR) exactly in the UK
When the deal ends, if the customer doesn't do anything the mortgage will move onto the lender's standard variable rate. … Many people also ended up stuck on the standard variable rate as a result of changes to mortgage rules following the 2008 financial crisis. …
1
vote
Do paperless mortgage statements put one at risk?
I am very skeptical about "paperless" banking. I understand why banks want it, but the advantages all seem to be for the bank not the customer.
You should always keep records of your finances. You mig …
2
votes
Paid off credit, how do I position myself for a mortgage application?
(this is a UK focused answer)
On the credit cards side the most important thing is that you are making payments and making them on time. Clearing the balance in full every month is fine. If you have …
0
votes
My father has passed away and I want to buy his home
Get a mortgage to buy your sister out. This avoids any ongoing involvement of your sister which may or may not be a good thing. … Buy the house using a loan from your sister. potentially agree a "private mortgage" to protect your sister in the event you fail to pay. If interest is paid then it is likely to attract tax. …
4
votes
Are you out of pocket if moving before paying mortgage interest?
So if you repay the mortgage early you will pay much less interest than if you let it go to term. … However in addition to interest there are likely to be various fees, both for taking out the mortgage in the first place and in some cases for repaying it early. …
0
votes
How do banks feel about loaning money to independent IT contractors for a home mortgage?
Note: I am in the UK. I don't know specifically about australia but I expect the general principles will be much the same everywhere.
What banks want is to be reasonablly confident that you have a st …
23
votes
Borrowing money in one country to pay off debt in another
If your mortgage is denominated in your home country's currency then this is not a massive problem, the rent still covers the mortgage. … If your mortgage is denominated in Euros then you have a big problem. Each rent payment buys you far less Euros than before, but the bank still expects to get paid. …