CFD Glossary

CFD Glossary   CFD - Contract For Difference CFD a derivative trading instrument that allows you to trade the price movements when you enter (buy) [...]

POSTED ON May 1, 2008
Traveller’s cheques

A traveller’s cheque is a fixed amount cheque that can be purchased in a variety of amounts and currencies. The cheques are usually signed by [...]

POSTED ON March 18, 2008
Cash passport

A cash passport is a prepaid card designed for use when travelling. The card can be loaded with a range of currencies so that you [...]

POSTED ON March 18, 2008
Early Termination Fee

An early termination fee may be charged by a lender if you refinance or otherwise payout your loan within a specified period, usually limited to [...]

POSTED ON October 26, 2007
‘No negative equity’ guarantee

A guarantee that the borrower will never owe more than the value of their property. This is a 'non-recourse' loan. In Australia, only applicable to [...]

POSTED ON September 29, 2005
Discharge fee

The one-off fee charged on final payout of loan. [...]

POSTED ON September 29, 2005
Annual fee

Ongoing administration fee charged each year on many home, business, personal and reverse mortgage loans, as well as credit cards. Admin fees such as these [...]

POSTED ON September 29, 2005
Minimum age of borrower

Reverse mortgages are only available to senior citizens and subject to minimum age limits, usually 60 0r 65. [...]

POSTED ON September 29, 2005
Equity reduction limit

Also called 'equity cap'. The limit to how far your home equity can be reduced, ie. no more loan funds are advanced once loan liability [...]

POSTED ON September 29, 2005
Non-recourse loan

A 'non recourse loan' means there are no circumstances under which you can be forced out of your home to repay the debt. If you [...]

POSTED ON September 22, 2005