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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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