The Tax on Your Salary - 2011-12. On January 9th 1799 the Prime Minister, William Pitt, introduced income tax to pay for the Napoleonic war at the swingeing rate of 0.83% for people earning Â£60 or more.
Basically, an ARM is a mortgage loan that has an interest rate that adjusts, or changes, usually once a year. The benefit of an ARM is that it generally gives you a lower interest rate initially. The risk is that the interest rate most likely will go up, which in turn will make your monthly payments rise.
Definition of MORTGAGE CLAUSE. : a clause endorsed on a mortgagor's insurance policy whereby the insurance company agrees to protect the mortgagee's interest regardless of any violation of the policy terms by the mortgagor. mortgage clause or mortgagee clause.