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Individual Saving Account Mortgage
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Sam
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Joined: 21 May 2005

Posts: 214
Location: CALIFORNIA


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PostPosted: Tue Jun 08, 2004 9:45 pm    Post subject: Individual Saving Account Mortgage
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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