understanding financial jargon
Sometimes referred to as 'other security', it is any security for a mortgage in addition to the property. The main type of Additional security is a single premium insurance policy, or mortgage indemnity guarantee (MIG). A MIG is usually required for loans in excess of 75% loan-to-value.
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
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