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A conditional transfer of property, used as security for the repayment of a loan.
Debt securities in which payment of the debt is backed by real estate and physical assets of the corporation.
Negotiated loans and agreements of sale secured by real property, mostly residential buildings. Includes first, second and third mortgages. Mortgages are characterized by blended repayments, usually monthly, of principal and interest.
A property that is bought over a period of time by regular payments
Capped Rate Mortgages The interest rate charged is on the standard variable rate but with an upper limit . For example the rate may be capped at 7% so that if the standard variable rate was 6% you would be paying 6%, but if rates increased to 8%, you would only pay 7%. The capped rate is set for a specific period and at the end of that period usually reverts to the standard variable rate, depending on scheme's criteria.
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