Actual - Real Estate

Sticking with the same mortgage lender for the term of your mortgage no longer applies to the majority of borrowers. Traditionally you may have taken out a mortgage and stayed put for the entirety of

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

the mortgage term however in recent times more and more borrowers have realised that this may not make financial sense.

Not being proactive in shopping around could mean paying over the odds for the

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

iggest financial commitment of most peoples lives.

Many borrowers are put off the idea of switching mortgages by looking back to the time when they first bought their home, the seemingly endless saga

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

of loan application and approval, legal work, packing and moving.

Securing a remortgage is in comparison a simple process, it wont generally involve the amount of paperwork, pressure and stress, no g

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

zumping or gazundering either. In many cases it simply means transferring your loan to a new lender for a more favourable rate of interest.

The Pros

Remortgaging will in most cases mean reducing you

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

monthly repayments. It can also be a good opportunity to review your finances as you may decide to pay off some of the capital or you could even raise some extra capital in this way, borrowing on com

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

etitive mortgage rates could be more favourable than seeking unsecured finance on generally higher rates of interest.

In many cases a remortgage is a way of securing a new fixed or discounted rate wh

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

n the existing one comes to an end without having to go on the dreaded standard variable rate (SVR) It may also be that rising interest rates mean that your once competitive deal is no longer as attra

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

tive as it used to be, for example, if you have a tracker rate and the base rate is going up after a period of prolonged stability.

The Cons

The cost of arranging a remortgage is of course far lower

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

than that of buying a property - there is no stamp duty to pay, no estate agents to settle and minimal legal fees involved, however remortgaging does come at a price. You may be subject to a valuation

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

fee as this will usually be a condition of the new mortgage, although the lender may cover this charge on your behalf.

The main two fees to consider are the lender arrangement fees and the early exit

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

charge/early repayment charge. Many lenders will charge a percentage of the mortgage balance if you redeem the loan within a certain period of time. These rates will differ hugely and some specialist

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

lenders will even go as high as 6%.

In recent times arrangement fees have risen dramatically and now average between 499 and 1.5% of the loan amount. You may add these costs to the new mortgage altho

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

gh this means that you will be paying interest on them for the full term of the loan.

The large increase in arrangement fees is due on the most part for the lenders need to make a profit. The competi

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ion in the marketplace has seen more competitive rates and attractive offers which has meant that the lenders profit margins are not as they once were.

Remortgaging Step By Step

1. Towards the end o

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

your tie in period, approach your existing lender to find out what they can offer you. It is worth bearing in mind that this could mean less paperwork and ultimately lower costs.

2. Calculate and co

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

sider the fees and costs applied to move away from your existing lender (if applicable). If these are too high then you wish to stay where you are until the tie in period finishes.

3. Make sure that

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ou shop around! Compare what your lender is offering to what is available elsewhere. Compare the APR as this will take into account associated fees and costs.

4. Select your favoured mortgage product

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

Start the ball rolling by making an application.

5. If you are using your own solicitors, contact them regarding the remortgage, some mortgage lenders will provide the services of their own solicito

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

s.

6. Once the valuation is complete and all other relevant paperwork, subject to approval your lender will send you a formal mortgage offer. Sign the papers and the transaction will be near complete

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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