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.
The lower the mortgage rate, the more home you can afford. An adjustable rate mortgage, or ARM, makes that possible by starting out lower than a fixed rate and then adjusting over time. An ARM is a particularly attractive option when you expect changes in your financial situation over the next five years.