Sentences with phrase «common penalty amounts»
Common penalty amounts are six months» worth of interest on a five - year CD, with some banks charging 12 months» worth of interest, for example.
https://www.gobankingrates.com/ Not exact matches
The two most common fees are origination fees, which are based upon a percentage of the amount of the loan, and prepayment penalties, which charge the borrower to pay off the loan prior to the end of the term.
At first instance, Andrew Smith J ruled -LRB-[2008] EWHC 875 (Comm)-RRB- that the Banks» standard terms were largely in plain intelligible language and did not amount to common law penalties; and that it was inappropriate to give any declarations relating to «good faith» under reg 5 (1).
In Office of Fair Trading v Abbey National plc and 7 Others, Mr Justice Andrew Smith accepted the banks» submissions that none of the relevant terms in the contracts imposing these charges amounted to a penalty under common law.