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.
Commonly abbreviated as ARM, the adjustable rate mortgage is the opposite of the fixed-rate mortgage. Adjustable-rate mortgages are available for most common loan types. You can use ARMs for conventional financing via Fannie Mae and Freddie Mac; and with FHA loans and VA loans, too.