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afkopen (v.e. bankspaarrekening)

English translation: buy out (e.g. a bank savings/building society account)

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Dutch term or phrase:afkopen (v.e. bankspaarrekening)
English translation:buy out (e.g. a bank savings/building society account)
Entered by: Emma Rault (X)

19:39 Sep 2, 2015
Dutch to English translations [PRO]
Bus/Financial - Real Estate
Dutch term or phrase: afkopen (v.e. bankspaarrekening)
Het gaat hier om een bankspaarhypotheek.

Voorbeeldzin: "Afkopen van de spaarrekening is mogelijk indien het saldo wordt afgelost op de lening."

In an insurance context, the word "surrender" is used, but there's no actual insurance policy as such linked to the mortgage in this case, so I'm not quite sure that works. "Cash in", maybe? My online research isn't getting me much further, as I can't find any mentions of this specific situation. Does anyone here have any ideas?
Emma Rault (X)
United Kingdom
Local time: 21:08
buy out (e.g. a bank savings/building society account)
Explanation:
I agree with Michael B, but neither pay off, nor redeem for an account - only the of the mortgage itself.
Selected response from:

Adrian MM. (X)
Local time: 22:08
Grading comment
Perfect, thank you!
4 KudoZ points were awarded for this answer



Summary of answers provided
4Redemption
Dave Greatrix
3buy out (e.g. a bank savings/building society account)
Adrian MM. (X)


Discussion entries: 1





  

Answers


18 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Redemption


Explanation:
http://creditexplained.org.uk/credit-explained/mortgages/mor...

Dave Greatrix
United Kingdom
Local time: 21:08
Native speaker of: English
PRO pts in category: 20
Notes to answerer
Asker: See Adrian's comment below: it's the mortgage that's being redeemed, but in this case it's about the exact machinations involved, which is what happens to the product (a bank savings account) pledged to the mortgage provider, and it's about specifically making clear this happens *prior to* the maturity date--it's about how to get out of a fixed-term savings account early.

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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
buy out (e.g. a bank savings/building society account)


Explanation:
I agree with Michael B, but neither pay off, nor redeem for an account - only the of the mortgage itself.


    Reference: http://www.proz.com/?sp=gloss/term&id=18800261
Adrian MM. (X)
Local time: 22:08
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 63
Grading comment
Perfect, thank you!
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