Deathwatch By Robb White Summaries

interest rate mortgage loan forms and types of annuity

The loan annuity is a financial instrument very special, because it is a useful tool for planning their financial needs after retirement.

There are several types:

LIFETIME MORTGAGE: a mortgage loan on a property of the customer. In this case, interest is added to the principal and paid at the end of the contract, and the customer remains the owner and manager of the property.
INTEREST ONLY: is a loan whose principal is repaid on the death of the contractor.
HOME REVERSION SCHEMES: equivalent to the sale of the bare ownership, in which the customer sells the home ownership, dwelling But for all his life.
SHARED APPRECIATION MORTGAGE: it is a loan in which the lending company gives the customer a sum in return for a share of the increased property value.
HOME INCOME PLAN: equivalent to an annuity loan, but where the amount of proceeds used to acquire an annuity by the customer.