The drawdown lifetime mortgage option enables the homeowner to release the equity flexibly, meaning they have full control of how and when the money is disbursed. The funds can be held in a reserve ...

A type of lifetime mortgage in which the money is disbursed in one lump sum payment rather than installments. The owner may choose how much equity to release, and interest is built on that specific ...

Interest only lifetime mortgage is a type of lifetime mortgage that allows the borrower to pay the interest charge in monthly installments, reducing the overall cost of the loan.

A basic contractual form is a contract of purchase and sale. This contract is an enforceable agreement between two parties to buy and sell. It is used for complex transactions such as those involving ...

An Offer to Purchase Real Estate can be used to make a firm or conditional offer. A firm offer means the buyer is willing to purchase the property without any specified conditions. If the seller ...

Lifetime mortgage is an equity release method that involves a loan like a regular mortgage, except in this case it’s intended to be paid back after the borrower dies or moves to a long term care f ...

A Fixed-Rate mortgage (FRM) is a fully amortizing mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may ...

An Adjustable-Rate-Mortgage (ARM) is a type or mortgage in which the interest rate applied on the oustanding balance varies throughout the life of the loan. With an adjustable-rate-mortgage, the ...

The Loan-to-Value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset. The term is commonly used by banks to represent the ratio of the first ...

To calculate home equity, you need to substract the amount of money you owe on your home through mortgages or other liabilities from the value of the home.