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.
7/1 arm What is a 7/1 ARM? A 7/1 ARM is an adjustable-rate mortgage that carries a fixed interest rate for the first seven years of its term, along with fixed principal and interest payments. After that initial period of the loan, the interest rate will change depending on several factors.