by Greg North | May 25, 2022 | Financial Terms, Types of Property Finance
Bank of Mum and Dad Explained The ‘Parent bank’ is a fun term to describe a genuine and increasingly used source of funds to help the next generation to purchase a property, usually their own home. Parents often have considerable asset value in their own...
by Greg North | May 25, 2022 | Financial Terms
Mortgage Cliffs Explained A mortgage cliff is when a borrower or mortgagee is heading to the end of a fixed interest lending period and moving into repaying their loan with a much higher variable interest rate. When the difference in interest rate is significant, it...
by Greg North | May 25, 2022 | Types of Property Finance
Reverse Mortgages Explained A reverse mortgage loan is a loan available for property owners who are 60 years and over. A mortgage is created against the equity or asset value in their home, holiday home or investment property. This equity can be taken out in a lump...
by Greg North | May 24, 2022 | Types of Property Finance
Bridging Loans or Bridging Finance A bridging loan may be necessary to cover the financial gap when buying one property before the existing one is sold. This finance is generally secured against your current (not new) property as you are utilising the equity in your...
by Greg North | May 24, 2022 | Types of Property Finance
Line of credit A line of credit is a flexible type of loan that can be applied for against equity in your home. They usually offer unlimited deposits or repayments as your repayments are not set amounts, unlike a home loan. Other Considerations For a Line of Credit...
