What is an Interest-Only Loan?

What is an Interest-Only Loan or Mortgage? An interest-only loan is structured so that you only pay the interest component on your loan. For these loans, the principal of the loan is not repaid during this repayment period. There is usually a specified, short-term...

What is a Split Mortgage?

What is a Split Loan or Mortgage? A split loan is a complex structured mortgage that folds in the features of multiple types of loan products, eg, fixed interest rate and variable interest rate. The primary reason this is considered is to incorporate the security of a...

What is Contents Insurance?

What is BuildingĀ Contents Insurance? Content insurance covers the contents of your home in the event they are destroyed, damaged or stolen. It is separate from property insurance. It may or may not cover items that are not always housed in your home, eg, a...

What is a variable loan?

What is a variable or variable-interest rate loan? These loans are the most common type available for mortgages or real estate purchases. The variable rate refers to the interest rate applied to repayments, which is not locked in at a set rate, but varies with the...