An inter alia mortgage is one that is secured by more than one property.
There are a host of reasons why someone may choose an inter alia mortgage, but the number one reason is to provide additional security for a lender. Sometimes lenders may not be pleased with the property that’s been pledged for security for the mortgage, and may look to the borrower to provide additional security in the form of another property. As with anything else, there are pro’s and con’s for doing it this way, both of which should be reviewed thoroughly before making any final decisions.
At Auxilium Mortgage Corporation, we’re here to help you with the alternatives, so at the end of the day you can make the right decision.