A pension scheme run by trustees which and which may be either fully or partially funded by an employer.
The independent body that has responsibility for investigating complaints about member institutions. In relation to mortgages, this will either be the Banking Ombudsman, the Building Societies Ombudsman, or the Mortgage Code arbitration scheme.
See Fair Market Value
Income that is in addition to basic salary.
The amount of money remaining to be paid.
Situation where repayments are increased so that the mortgage is repaid before the end of the agreed term. Some mortgages (flexible mortgages) allow for overpayment, but others may impose early redemption penalties for overpayment.