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News about Mortgages:
'Time it right' as interest rates tumble - Stuff.co.nz'Time it right' as interest rates tumbleStuff.co.nz, New Zealand - Oct 10, 2008Economists and mortgage brokers are advising anybody with mortgages coming off a fixed-interest rate to refix for six to 12 months. Christchurch mortgage ...
Powerball jackpots to $30m this week - Stuff.co.nzStuff.co.nzPowerball jackpots to $30m this weekStuff.co.nz, New Zealand - 15 hours agoMike Jennings, a 35-year-old engineer from Christchurch, wanted to pay off his mortgage, buy a motorbike, car and a bigger house for his family. ...
New Zealand banks 'rationing' lending for property buyers - Property WireProperty WireNew Zealand banks 'rationing' lending for property buyersProperty Wire, UK - Oct 6, 2008It is no longer standard to get a home loan approved in a few days,' said Chris Eves, a property studies professor at Lincoln University, Christchurch. ...
“Protect and Save YOUR Tauranga” - Scoop.co.nz (press release)“Protect and Save YOUR Tauranga”Scoop.co.nz (press release), New Zealand - Oct 9, 2008On roading - it is the envy of Auckland, Wellington and Christchurch in particular. Tauranga in 2005 got an elected representative who did a lot of talking ...
Hard road for southern developers - Stuff.co.nzHard road for southern developersStuff.co.nz, New Zealand - Sep 27, 2008Christchurch mortgage broker Steve Seal and his wife Lesley bought a section at Pegasus in April 2006 after being convinced by the marketing hype over the ...
Consumers experience small boost to finances - The PressThe PressConsumers experience small boost to financesThe Press, New Zealand - Oct 3, 2008... Christchurch supermarket car-park yesterday. Company area manager Jonnie Bromley, 29, said: "We have to pay for the mortgage anyway if we want a house. ...
Killer drunk driver's home detention a 'farce' - Stuff.co.nzKiller drunk driver's home detention a 'farce'Stuff.co.nz, New Zealand - Sep 15, 2008"Justice was not done," Merv King said outside the Christchurch District Court. Judge Raoul Neave sentenced Wheeler, 31, to a year's home detention after he ...
House scheme opens door for newlyweds - Stuff.co.nzHouse scheme opens door for newlywedsStuff.co.nz, New Zealand - Sep 27, 2008It targets areas where housing prices are highest - Auckland, Wellington, Nelson, Christchurch and Queenstown. Participants must have a 5% deposit but the ...
Zones of Obsession - RedOrbitZones of ObsessionRedOrbit, TX - Sep 21, 2008By MATTHEWS, Philip School zones in Christchurch are about more than just education. PHILIP MATTHEWS investigates what that says about the city and the ...
Banks get tougher on home buyers - NZ Herald Auckland MetroBanks get tougher on home buyersNZ Herald Auckland Metro, New Zealand - Oct 4, 2008Banks have substantially tightened their credit controls, says Chris Eves, a property studies professor at Lincoln University, Christchurch. ...
Today's Mortgage Terms starting with L
Lender: The bank, mortgage company or mortgage broker providing the loan.
Loan Application: A statement of personal and financial information needed to apply for a loan.
Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
View all Terms