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Additional Security Fee
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An additional security fee may be required when the mortgage exceeds a certain percentage of the value of the property (usually 75%).
The form of additional security used is normally a Mortgage Indemnity Policy. Occasionally the lender may require a parent to be a guarantor or for other security such as shares or insurance policies to be pledged.
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Last Updated: February 2007 © Moneyextra.com
MoneyExtra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.