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Tag: CHARGES
CHARGES
Explaining higher lending charges
Higher Lending Charges (HLC), also known as Mortgage Indemnity Guarantees (MIG) or Mortgage Indemnity Premiums (MIP), are additional fees that may be applied by lenders in the UK when borrowers take out a mortgage with a high loan-to-value (LTV) ratio. Here’s an in-depth explanation of what HLCs are, how they work, and their implications for… Read more
What is a deed of postponement?
A Deed of Postponement is a legal document used in the UK mortgage market to change the order of priority of charges secured against a property. This document is typically used when a homeowner has more than one mortgage or secured loan and wants to take out additional financing, such as a further advance or… Read more