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IFA
Independent Financial Advisor.
Individual savings account (ISA) mortgage
An interest only mortgage linked to an Individual Savings
Account fund, which is designed to pay off the loan at the
end of the period.
Interest charges (mortgage)
The charges that banks make on a loan, calculated as a percentage
of the amount borrowed.
Interest-only mortgage
There are 2 types of mortgage, interest-only or capital
repayment. Interest-only mortgage stays the same throughout
the mortgage term. Interest and a premium to an investment
vehicle are paid monthly. At the end of the term, the proceeds
from the investment vehicle are intended to repay the mortgage.
The amount will depend on the performance of the investment
vehicle. If you choose an interest only mortgage you will
be responsible for ensuring that you have sufficient funds
available to repay your mortgage at the end of the term.
Inventory
A list which describes the condition of furnishings and
contents of a leased property at the commencement of the
tenancy in order that any dilapidation during the tenancy
can be identified.
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