Higher Lending Charge (HLC) | Jargon Buster on Chase De Vere Mortgage Management
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Higher Lending Charge (HLC)

Higher Lending Charge (HLC)

In other words

Formerly known as a Mortgage Indemnity Guarantee (Mig), a higher lending charge is essentially an insurance premium paid by the

Definition

Formerly known as a Mortgage Indemnity Guarantee (Mig), a higher lending charge is essentially an insurance premium paid by the borrower to the lender to cover the risk of defaulting on the portion of the loan above 75% of the property’s value.