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Glossary entry

Danish term or phrase:

andelsprioritet / andelsprioriteret

English translation:

current account mortgage

Added to glossary by Annette Skipper (X)
Jun 13, 2012 11:35
11 yrs ago
3 viewers *
Danish term

andelsprioritet / andelsprioriteret

Danish to English Bus/Financial Accounting
Jeg har desværre kunne denne kontekst, da der er tale om en oversigt:

Andelsprioritet lønkonto
Proposed translations (English)
3 +1 current account mortgage
2 +1 Offset mortgage account
3 -1 cooperative housaing mortgage loan

Discussion

Charles Ek Jun 13, 2012:
Okay, I understand now. This is a little like a "home equity line of credit" here in the U.S. However, I haven't seen any such accounts here where deposits into the account can be made. I'll do some looking and come back to you with the results.
Annette Skipper (X) (asker) Jun 13, 2012:
Link til forklaring Prøv at se her - det er forklaringen:

http://www.finansbanken.dk/produkter/laan/AndelsPrioritet/Pa...

Det er et andelslån med en lønkonto - en kombi af flere forskellige slags produckter, så man bla. kan udligne renteindtægter og -udgiften.
Charles Ek Jun 13, 2012:
I understand the distinction. But using "andelsprioritet" with ""lønkonto" makes no sense to me. And it appears nowhere on Google except your query and a single accidental combination in an XML document. Using it with "lånkonto" makes perfect sense, which is why I suggested a typo as the explanation.
Annette Skipper (X) (asker) Jun 13, 2012:
Prøv at google det Jeg forstår ikke, hvad du spørger om - for du har faktisk selv termen med i det, du skriver (andelspriorotetslån)!!!!

Og nej, lønkonto og lånkonto er ikke det samme ord med en stavefejl - prøv at google de to ord, så kan du se.
Charles Ek Jun 13, 2012:
Possible typo? It makes little sense to me as written. Can this be a misspelling of "lånkonto"? See this at http://www.mybanker.dk/bank/debat/vis_indlaeg.html?id=692:

"Jeg sidder med både et andelsboliglån på 41.000 til en effektiv udlånsrente på 7,45 % og et andelsprioritetslån på 192.000 til en effektiv udlånsrente på 5,98 %."

There are other examples in a search for andelsprioritetslån + nordea at http://www.google.com/search?client=safari&rls=en&q=andelspr...

Proposed translations

+1
8 hrs
Danish term (edited): andelsprioritet lønkonto
Selected

current account mortgage

Thanks to Richard's answer, I've found this at the link below, describing a form of an offset mortgage that closely matches the Danish scheme:

"Some lenders have a single account for all transactions, this is often referred to as a current account mortgage."

Although "current account mortgage" might seem to refer only to the loan itself, perhaps it can be worked into your context somehow?
Reference:

http://en.wikipedia.org/wiki/Flexible_mortgage

Peer comment(s):
agree David Young (X) : Lots of hits for this on uk.yahoo. See below. I don't think the "andels" bit is important because the Danish system doesn't exist in the UK. You could add "cooperative housing" at the front. http://www.money.co.uk/mortgages/current-account-mortgages.h...
1 day 20 hrs
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3 KudoZ points awarded for this answer. Comment: "I think this is the closest I get to the Danish loan/account type. Thanks for your help, Charles!"
-1
1 hr

cooperative housaing mortgage loan

See "Lån til andelsboligen med FinansNetbanken. Vi har et af markedets billigste andelsboliglån, hvor du kun betaler rente af det beløb, du har trukket.


AndelsPrioritet er et billigt lån
En AndelsPrioritet er en kredit med pant i andelsboligen. Det vil sige, at løn med videre kan indgå på kontoen, og der kan tilknyttes betalingskort til kontoen. Der betales kun renter af det beløb, som er trukket på kontoen, så du kan med fordel indsætte, for eksempel, din opsparing og dermed betale renter af et mindre beløb.



Lad din løn gå ind på kontoen og spar penge
Benyt din AndelsPrioritet som lønkonto og få et gratis Visa/Dankort og muligheden for et MasterCard. Derudover får du rabat på oprettelsesgebyrerne til FinansNetbanken, når du opretter billån, andels- og boliglån."
http://www.finansbanken.dk/produkter/laan/AndelsPrioritet/Pa...

Peer comment(s):
disagree Charles Ek : See the discussion above, which already includes the same link you posted. What's at issue here is not the loan (more like a line of credit) itself, but rather an account into which the borrower can also make deposits of salary, savings, etc.
3 hrs
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+1
7 hrs

Offset mortgage account

In the UK banking sector, a number of lenders offer 'offset mortgages'. In such instances, the customer holds a mortgage, and a savings and/or current account. The amounts in their savings and current account are offset against the mortgage, thus effectively reducing the loan amount, without making any formal payment towards the mortgage. The customer is then free to withdraw the money from their savings or current account and the loan amount then increases accordingly, but never more than the original agreed loan amount.
Reference:

http://www.thisismoney.co.uk/money/mortgageshome/article-1583962/Offset-mortgages-clear-a-mortgage-early.html

Note from asker:
Hi Richard, The account in question is not two different accounts but one, although the principle you describe seem to be close to the Danish account. Thanks for your input. This type of translation is always difficult due to the different systems in US/DK/UK!
Peer comment(s):
agree Charles Ek : This is very close. I haven't found a U.S. analogue yet.
1 min
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