Default Financial Glossary

What is it? Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage.

Finance Term Definition Added By: Riley

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Other Similar Finance Terms:

Financial Term Mortgage indemnity insurance is A payment to a mortgage lender so they can take out insurance if you are borrowing more than a certain percentage of the value of your home.

Financial Term Fund is The pool of capital established for the purposes of private equity activity. Often a Management Company will be responsible for several funds that may vary according to mandate or investment period.

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Financial Term Standard variable rate is The mortgage interest rate charged by most lenders, which varies in line with rises and falls in the Bank of England base rate.

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