Term used to refer to mortgages that combine different mortgage types. For instance, a combination of a part capital and interest mortgage with an ISA mortgage.
Under a flexible mortgage, borrowers are permitted to take a break from their mortgage repayments for a specified period.
The method by which an interest-only mortgage is to be repaid at the end of its term. Typically this will be either an endowment, an ISA, or some other investment product.
See Accident, Sickness amp; Redundancy insurance.
A specified charge that is levied by the lender under certain circumstances, usually for early repayment.
An interest-only mortgage that uses a pension as a means of paying off the loan at the end of its term.
A tax-free savings plan that has since been replaced with the ISA.
An insurance policy that pays a monthly income if the policyholder becomes ill and cannot work.
A pension plan that allows individuals not covered by a company pension plan to save for a pension.
In relation to a mortgage, this refers to a mortgage that can be transferred between properties when the policyholder moves home.
A document from a previous lender that confirms a person's previous repayment record.
The amount of debt outstanding (excluding interest). The face value of a note or mortgage.
See Repayment Mortgage