 Sam
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Joined: 21 May 2005
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Location: CALIFORNIA
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 Posted: Tue Jun 08, 2004 9:45 pm Post subject: Individual Saving Account Mortgage |
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Individual Saving Account Mortgage uses stock market-based investments for tax-free growth. It is also known as ISA. There are two main types of individual saving account mortgage:
- Mini individual saving account mortgage.
- Maxi individual saving account mortgage.
Advantages of individual saving account mortgage are as following: - It allows a borrower to pay off his mortgage early.
- It is an investment vehicle which permits tax free growth.
- There is a possible early repayment.
- It permits tax free investment.
Disadvantages of individual saving account mortgage are as following:- It does not guarantee tax free investments.
- It needs a separate life cover.
- Stock market crash could leave borrower's investment in trouble.
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