Interest rates on an equitable mortgage?

demoivre

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Anyone know if the APR on an equitable variable rate mortgage is substantially different to the APR on your standard legal varaible rate mortgage?
 
ClubMan said:
What do you mean by "equitable" mortgage? Do you mean "endowment" mortgage?

No, an equitable mortgage only transfers a beneficial interest in the asset to the mortgagee with legal title remaining with the mortgagor where as a legal mortgage is the the most secure form of security from the lenders view point as it transfers legal title to the lender.
 
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