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.
Mortgage loans have become quite diverse in the past few years and much of the industry jargon can be confusing. Here are a couple of basic terms you will run into when looking for a mortgage loan today. What does an ARM have to do with my home loan? One of the most common mortgage terms today is ARM.