1
Q
Why considering risk is important ?
A
- risk to the home
- Negative equity
- repayment risk
- interest rate risk
- fixed rate risk
- rate rises at the end
- underperformance of investment vehicle
2
Q
Unacceptable repayment strategies
A
- Using the mortgaged property as means to sell to repay the mortgage
- Using an uncertain inheritance to repay
- Selling the main property you live in to pay unless its enough to pay and buy a new property
Cemap2
flashcards
Decks in class (29)
# Cards
-
Topic 1 - Property and mortgage markets7
-
Topic 2- Mortgage application assessment9
-
Topic 3 - Mortgage regulations14
-
Topic 4 - Principles of mortgage and property law13
-
Topic 5 - Practical aspects of property and mortgage law6
-
Topic 6 - Buying a property: an overview10
-
Topic 7 - The legal aspects of property purchase3
-
Topic 8 - Regulation and the buying process2
-
Topic 9 - The role of the mortgage adviser3
-
Topic 10 - Assessing the applicant's financial status5
-
Topic 11 - Checking the applicants credit status8
-
Topic 12 - Suitability2
-
Topic 13 - Assessing the property6
-
Topic 14 - Valuations and surveys8
-
Topic 15 - Other factors that affect the lending decision6
-
Topic 16 - Financial protection and planning0
-
Topic 17 - Types of financial protection 11
-
Topic 18 - Types of financial protection1
-
Topic 19 - Protection advice3
-
Topic 20 - Mortgage repayment methods3
-
Topic 21 - Using endowment policies for mortgage repayment3
-
Topic 22 - Other repayment vehicles for interest only mortgages0
-
Topic 23 - Interest-rate options0
-
Topic 24 - Other mortgage products3
-
Topic 25 -Schemes for specific groups of borrower2
-
Topic 26 - raising additional funds from property4
-
Topic 27 - Transferring mortgages4
-
Topic 28 - Arrears and debt management2
-
Topic 29 - Lenders legal rights and remedies1
