A free on-line book about UK mortgages
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By Michael Kelly
A mortgage is
probably the largest financial transaction in the lives of most people
it pays to know more about it and how to profit from it. Mortgages
Exposed is written by Michael Kelly, an acknowledged expert with over thirty
years experience in the mortgage business.
The book delves
into the innermost parts of mortgages and loans, explaining how they
really work starting from the first principles of compound interest,
describing the use of powerful comparative tools such as the Internal
Rate of Return and the magic of gearing.
The target audience
is the more discerning borrower, as well as for anyone involved in the
financial services industry. The
book focuses on thinking from first principles, and so it should never
general-purpose spreadsheets are included for
download on this web site: so easy to use that you can become an instant
mortgage expert, able to analyse many different scenarios and get
immediate answers to all your what if questions.
The on-line tools (see menu above) are simple to use, but vital to
anyone considering a mortgages or a re-mortgage or an investment
exposed, the infamous Rule of 78, the flat rate loan and the lenders
who calculate payments in bizarre ways.
The new rules (as from April 2000) for APR calculations are
mortgage scandal is explained and analysed.
A clear answer is given to the dilemma over whether to choose
interest-only or capital repayment.
Use the complete,
general-purpose guide on how to choose any mortgage scheme from the
thousands of available options.
Current Account mortgages are specifically looked at.
Michael Kelly first launched these schemes as early as 1979.
Kelly also goes
into some detail on the advantages and risks of buy-to-let, and
explains how to gear up your profits by several multiples.
A section on how to
become a millionaire will excite the entrepreneur wishing to exploit
mortgages to create wealth.
What is the
lenders view? Lenders and mortgage brokers will find the
spreadsheets for designing a mortgage very useful to ensure the right
returns are achieved.
schemes of all descriptions are outlined together with the novel
Reverse Mortgage scheme for the house rich but cash poor.
select "Book on-line" above