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Category Archives: Types of Loans

Types of loans: Fixed Interest Rates

A fixed interest rate can be a blessing or a curse – depending on how the base rate changes. However, one strong advantage of a fixed rate loan is that … Continue reading

February 15, 2014 · Leave a comment

Types of Loans: Floating Variable Rates

Floating variable loans are variable rate loans with a twist – instead of being set by the bank, the rate is tied to the base rate. This means that your … Continue reading

February 15, 2014 · Leave a comment

Types of Loans: Home Equity

Real-estate property owners who have a positive equity in their property may be able to turn this into an investment opportunity. In simple terms, home equity is the difference between … Continue reading

February 15, 2014 · 1 Comment

Types of Loans: Interest Only Loan

An interest only loan is, quite simply, a loan in which you repay only the interest for a fixed period, then pay the principal (i.e., the sum initially borrowed) off … Continue reading

February 15, 2014 · Leave a comment

Types of Loans: Part Fixed / Part Variable

A compromise between fixed rate loans and variable rate loans, part fixed loans allow the borrower to fix the rate on part of the value of the loan while accepting … Continue reading

February 15, 2014 · Leave a comment

Types of Loans: Standard Variable Rate

The term standard variable rate is one you’ll see a lot in mortgage information packs as for many lenders this is their default option. In many ways, it is a no-frills rate, … Continue reading

February 15, 2014 · Leave a comment
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